Rudd Corp. had 700,000 shares of common stock authorized and 300,000 shares outstanding at December 31,20x1. The following events occurred during 20x2:

• January 31 - Declared 10% stock dividend
• June 30 - Purchased 100,000 shares
• August 1 - Reissued 50,000 shares
• November 30 - Declared 2-for-1 stock split

At December 31, 20x2, how many shares of common stock did Rudd have outstanding? show the solution and explain.