Question: Sunshine Corporation began operations on July 1 2009 When Sunshine s
Sunshine Corporation began operations on July 1, 2009. When Sunshine’s first fiscal year ended on June 30, 2010, the balance sheet showed 200,000 shares of common stock issued and 195,000 shares of common stock outstanding. During the second year, Sunshine repurchased 10,000 shares for the treasury. No new shares were issued in the second year. On the balance sheet at June 30, 2011, how many shares would be classified as issued? How many shares are outstanding?
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