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 received a charter that authorized the issuance of 110,000 shares of $7 par common stock and 21,000 shares of $100 par, 4 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation. Year 1 January 5 January 12 April 5 December 31 December 31 December 31 Year 2 Pebruary 15 Mareh 3 May 5 December 31 December 31 Sold 16,500 shares of the $7 par common stock for $9 per share. Bold 2,100 shares of the 4 percent preferred stock for $110 per share. Sold 22,000 shares of the $7 par cormon stock for $11 per share. During the year, earned $308,200 in cash revenue and paid $235,600 for cash operating expenses. Declared the cash dividend on the outstanding shares of preferred stock for Year 1 . The dividend wil be paid on Pebruary 15 to stockholders of record on January 10, Year 2. c-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