The stockholders' equity section of Piper Corporation's balance sheet at December 31, 2016, appears below: Stockholders' equity Paid-in capital Common stock, $10 par value, 400,000 shares authorized; 300,000 issued and outstanding Paid-in capital in excess of par Total paid-in capital Retained earnings Total stockholders' equity $3,000,000 1.200.000 4,200,000 900.000 $5.100.000 During 2017, the following stock transactions occurred: Jan. 18 Issued 80,000 shares of common stock at $23 per share Aug. 20 Purchased 20,000 shares of Piper Corporation's common stock at $25 per share to be held in the treasury. Assume that net income for the year was $150,000 and that no dividends were declared. How many shares of common stock were outstanding on December 31, 2017? 80,000 360,000 400,000 None of the answers provided. 60,000 380,000