Sun Corporation received a charter that authorized the issuance of 96,000 shares of $3 par common stock and 22,000 shares of $75 par, 4 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation: Year 1

Jan.		5		Sold 14,400 shares of the $3 par common stock for $5 per share.
		12		Sold 2,200 shares of the 4 percent preferred stock for $85 per share.
Apr.		5		Sold 19,200 shares of the $3 par common stock for $7 per share.
Dec.		31		During the year, earned $314,200 in cash revenue and paid $240,000 for cash operating expenses.
		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.
		31		Closed the revenue, expense, and dividend accounts to the retained earnings account.

Year 2

Feb.		15		Paid the cash dividend declared on December 31, Year 1.
Mar.		3		Sold 3,300 shares of the $75 par preferred stock for $95 per share.
May		5		Purchased 600 shares of the common stock as treasury stock at $6 per share.
Dec.		31		During the year, earned $249,600 in cash revenues and paid $175,600 for cash operating expenses.
		31		Declared the annual dividend on the preferred stock and a $0.75 per share dividend on the common stock.
		31		Closed revenue, expense, and dividend accounts to the retained earnings account.

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? (Amounts to be deducted should be indicated with minus sign.)

c-2. Is any differences between issued and outstanding common shares for Year 1 and for Year 2?

Issued common shares:

Outstanding common shares:

Schedule of Number of Shares of Common Stock Shares Shares sued Outstanding Year 1 1 1 1 1. O Totals Year 2 I TILL TL LLLL TTT o T 1 1 1 III 1 INT | Totals To || | IL I | |