Solve C$-1$ and C$-2$ using the following Sun Corps information: Sun Corporation received a charter that authorized the issuance of $119,000$ shares of $$3$ par common stock and $19,000$ shares of $$125$ par, $8$ percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation.

Year $1$:

$1.$January $5$ Sold $17,850$ shares of the $$3$ par common stock for $$5$ per share.

$2.$January $12$ Sold $1,900$ shares of the $8$ percent preferred stock for $$135$ per share.

$3.$April $5$ Sold $23,800$ shares of the $$3$ par common stock for $$7$ per share.

$4.$December $31$ During the year, earned $$313,900$ in cash revenue and paid $$243,600$ for cash operating expenses.

$5.$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 $2$:

$1.$February $15$ Paid the cash dividend declared on December $31,$ Year $1.$

$2.$March $3$ Sold $2,850$ shares of the $$125$ par preferred stock for $$145$ per share.

$3.$May $5$ Purchased $550$ shares of the common stock as treasury stock at $$6$ per share.

$4.$December $31$ During the year, earned $$250,800$ in cash revenues and paid $$177,100$ for cash operating expenses.

$5.$December $31$ Declared the annual dividend on the preferred stock and a $$0\mathrm{.}50$ per share dividend on the common stock.