[The following information applies to the questions displayed below.]

Sun Corporation received a charter that authorized the issuance of 89,000 shares of $6 par common stock and 20,000 shares of $100 par, 8 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation:

2016

Jan.	5	Sold 13,350 shares of the $6 par common stock for $8 per share.
	12	Sold 2,000 shares of the 8 percent preferred stock for $110 per share.
Apr.	5	Sold 17,800 shares of the $6 par common stock for $10 per share.
Dec.	31	During the year, earned $312,400 in cash revenue and paid $241,500 for cash operating expenses.
	31	Declared the cash dividend on the outstanding shares of preferred stock for 2016. The dividend will be paid on February 15 to stockholders of record on January 10, 2017.
	31	Closed the revenue, expense, and dividend accounts to the retained earnings account.

2017

Feb.

15

Paid the cash dividend declared on December 31, 2016.

Mar.

3

Sold 3,000 shares of the $100 par preferred stock for $120 per share.

May

5

Purchased 550 shares of the common stock as treasury stock at $12 per share.

Dec.

31

During the year, earned $251,000 in cash revenues and paid $174,000 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.

b.

Prepare the balance sheets at December 31, 2016 and 2017. (Amounts to be deducted should be indicated with minus sign.)

SUN CORPORATION
Balance Sheet
As of December 31, 2016
Assets
Total assets		$0
Liabilities
Total liabilities		0
Stockholders equity
Total paid-in capital	0
Total stockholders equity		0
Total liabilities and stockholders equity		0

SUN CORPORATION
Balance Sheet
As of December 31, 2017
Assets
Total assets		$0
Liabilities
Total liabilities		0
Stockholders equity
Total paid-in capital	0
Total stockholders equity		0
Total liabilities and stockholders equity		0

c-1.

What is the number of common shares outstanding at the end of 2016? At the end of 2017? How many common shares had been issued at the end of 2016? At the end of 2017? (Amounts to be deducted should be indicated with minus sign.)

Schedule of Number of Shares of Common Stock
	Shares Issued	Shares Outstanding
2016
Totals	0	0
2017
Totals	0	0

c-2.	Is any differences between issued and outstanding common shares for 2016 and for 2017.

Issued common shares
Outstanding common shares