Required information Problem 11-26A (Algo) Recording and reporting stock transactions and cash dividends across two accounting cycles LO 11-3, 11-6 The following information applies to the questions displayed below] Sun Corporation recelved a charter that authorized the issuance of 84,000 shares of $6 par common stock and 18,000 shares of $125 par, 5 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation. Year 1 January 5 50ld 12,600 shares of the $6 par cormon stock for $8 per share. January 12 Sold 1,80 shares of the 5 percent preferred stock for $135 per share. April 5 Sold 16,80 shares of the $6 par common stock for \$1e per share. Decenber 31 During the year, earned $30e,860 in cash revenue and paid $241,660 for cash operating expenses. December 31 Declared the cash dividend on the outstanding shares of preferred stock for Year 1 . The dividend will be paid on February 15 to stockholders of record on January 10 , Year 2. Year 2 February 15 Paid the cash dividend declared on Decenber 31, Year 1. March 3 Sold 2,760 shares of the $125 par preferred stock for $145 per share. May 5 Purchased 560 shares of the common stock as treasury stock at $12 per share. December 31 During the year, earned $250,400 in cash revenues and paid $172,40e for cash operating expenses. December 31 Declared the annual dividend on the preferred stock and a 50.25 per share dividend on the common stock. 6-1. What is the number of common shares outstanding at the end of Year 1? At the end of Year 2? How many common shares had been issued at the end of Year 1? At the end of Year 2? Note: Amounts to be deducted should be indicated with minus sign. c-2. Are there any differences between issued and outstanding common shares for Year 1 and Year 2