Sun Corporation received a charter that authorized the issuance of 93,000 shares of $8 par common stock and 21,000 shares of $125 par, 8 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation.

Year 1

Jan. 5 Sold 13,950 shares of the $8 par common stock for $10 per share.

Jan 12 Sold 2,100 shares of the 8 percent preferred stock for $135 per share.

Apr. 5 Sold 18,600 shares of the $8 par common stock for $12 per share.

Dec. 31 During the year, earned $313,400 in cash revenue and paid $244,900 for cash operating expenses.

Dec. 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

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

Mar. 3 Sold 3,150 shares of the $125 par preferred stock for $145 per share.

May. 5 Purchased 400 shares of the common stock as treasury stock at $16 per share.

Dec. 31 During the year, earned $247,200 in cash revenues and paid $173,100 for cash operating expenses.

Dec. 31 Declared the annual dividend on the preferred stock and a $0.50 per share dividend on the common stock.

a. Organize the transaction data in accounts under an accounting equation

b. balance sheets

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 shar en 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. c-2. Are there any differences between issued and outstanding common shares for Year 1 and Year 2?

Required information [The following information applies to the questions displayed below.] Sun Corporation recelved a charter that authorized the issuance of 93,000 shares of $8 par common stock and 21,000 shares of $125 par, 8 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation. Year 1 Jan. 5 sold 13,950 shares of the $8 par conmon stock for $10 per share. 12 sold 2,100 shares of the 8 percent preferred stock for $135 per share. Apr. 5 \$old 18,690 shares of the \$8 par comenon stock for $12 per share. Dec, 31 During the year, earned $313,400 in cash revenue and poid $244,900 for cash operating expenses. 31 Declared the cash dividend on the outstanding shares of preforred stock for Year 1. The dividend will be paid on February 15 to stackholders of record on January 10, Year 2. Year 2 reb.15 Paid the cash dividend declared an Decentien 31, Year 1. Mar. 3 5old 3,150 shares of the $125 par preferred stock for $145 per share. Moy. 5. Purchased abe shares of the comon stock as treasury stock at $16 per share. Deci.3s During the year, earned $247,200 in cash rovenues and paid \$173, i6o far cash operating expenses. 31. Declared the anmual dividend on the preferred stock and a 50.50 per sthare dividend on the connon stock. Required 6. Organke the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. Not all cells require input.)