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 103,000 shares of $4 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 Sold 15,450 shares of the $4 par common stock for $6 per share. January 12 Sold 1,800 shares of the 5 percent preferred stock for $135 per share. April 5 Sold 20,600 shares of the $4 par common stock for $8 per share. December 31 During the year, earned $315,300 in cash revenue and paid $235,200 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 December 31, Year 1. March 3 Sold 2,700 shares of the $125 par preferred stock for $145 per share. May 5 Purchased 600 shares of the common stock as treasury stock at $8 per share. December 31 During the year, earned $253,700 in cash revenues and paid $175,900 for cash operating expenses. December 31 Declared the annual dividend on the preferred stock and a $0.50 per share dividend on the common stock. Required a. Organize the transaction data in accounts under an accounting equation. Note: Enter any decreases to account balances with a minus sign. Not all cells require input. 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