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Upon submitting its corporate charter to the state, Lazer was granted permission to issue 6 , 0 0 0 shares of $ 0 . 3

Upon submitting its corporate charter to the state, Lazer was granted permission to issue 6,000 shares of $0.30 par value common stock. Net income for the year for Lazer was $98,400. In addition, the following transactions took place during the year:
\table[[January 2:,Investors paid Lazer $7 each for 2,520 shares of common stock],[March 12:,Lazer purchases 600 shares of its own common stock for $6.50 per share],[October 31:,Lazer declared a 2-for-1 forward stock split]]
As of December 31, how many shares are issued, and how many shares are outstanding?
Select one:
a. Issued, 4,080; Outstanding, 2,520
b. Issued, 4,080; Outstanding, 5,040
c. Issued, 5,040; Outstanding, 1,920
d. Issued, 5,040; Outstanding, 3,840
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