Required information [The following information applies to the questions displayed below] Sun Corporation recelved a charter that authorized the issuance of 90,000 shares of $7 par common stock and 21,000 shares of $125 par, 4 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation. Year 1 January 5 sold 13,500 wharea of the $7 par common stock for $9 per ahare. January 12 sold 2,100 whares of the 4 percent preferred stoek for $135 per ethre. April 5 sold 18, 000 aharen of the $7 par common atock for $11 per share. December 31 During the year, earned $303,700 in canh rovense and paid $241,900 for cauh operating expennes. December 31 peclared the canh dividend on the outstanding tharea of preferred itock for Year 1 . The dividend wil1 be paid on February is to ntockholdera of record on January 10, Year 2. December 31 cloned the revenue, expense, and dividend accounte to the retained earnings account. (3 meparate entrien ) Year 2 Fobruary 15 Faid the eash dividend deolared on Deceaber 31, Yoar 1. Mareh 3 sold 3,150 aharei of the $125 par preterred atook for $145 per whare. May 5 purehased 500 sharea of the common itook an treasury mtoek at 514 per mhare. necember 31 During the year, earned $246,300 in cash revenues and paid $177, 100 for caah operating expensea, becember 31 peclared the annual dividend on the preterred atook and a $0.50 per share dividend on the common stock. December 3 closed revenue, expense, and dividend accounts to the retained earnings account. (3 soparato entrien) 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 ? c-2. Is there a chfference between issued and outstanding common shares for Year 1? For Year 2? 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? (Amounts to be deducted should be indicated with minus sign.) Required information [The following information applies to the questions displayed below] Sun Corporation recelved a charter that authorized the issuance of 90,000 shares of $7 par common stock and 21,000 shares of $125 par, 4 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation. Year 1 January 5 sold 13,500 wharea of the $7 par common stock for $9 per ahare. January 12 sold 2,100 whares of the 4 percent preferred stoek for $135 per ethre. April 5 sold 18, 000 aharen of the $7 par common atock for $11 per share. December 31 During the year, earned $303,700 in canh rovense and paid $241,900 for cauh operating expennes. December 31 peclared the canh dividend on the outstanding tharea of preferred itock for Year 1 . The dividend wil1 be paid on February is to ntockholdera of record on January 10, Year 2. December 31 cloned the revenue, expense, and dividend accounte to the retained earnings account. (3 meparate entrien ) Year 2 Fobruary 15 Faid the eash dividend deolared on Deceaber 31, Yoar 1. Mareh 3 sold 3,150 aharei of the $125 par preterred atook for $145 per whare. May 5 purehased 500 sharea of the common itook an treasury mtoek at 514 per mhare. necember 31 During the year, earned $246,300 in cash revenues and paid $177, 100 for caah operating expensea, becember 31 peclared the annual dividend on the preterred atook and a $0.50 per share dividend on the common stock. December 3 closed revenue, expense, and dividend accounts to the retained earnings account. (3 soparato entrien) 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 ? c-2. Is there a chfference between issued and outstanding common shares for Year 1? For Year 2? 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? (Amounts to be deducted should be indicated with minus sign.)
