Ross Corporation Reported the Following Equity Section on Its Current

Ross Corporation reported the following equity section on its current balance sheet:
$$\begin{array} { | l | r | } \hline \begin{array} { l } \text { Common stock, } \$ 5 \text { par, } 140,000 \text { shares authorized, } 50,000 \text { shares } \\\text { issued }\end{array} & \$ 250,000 \\\hline \text { Paid in capital in excess of par-common } & 200,000 \\\hline \text { Retained earnings } & 207,000 \\\hline \text { Total stockholders' equity } & \$ \underline { 657,000 } \\\hline\end{array}$$
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The corporation purchases 15,000 shares of its common stock at $9.50 per share. Which of the following is the number of common shares issued and the number of common shares outstanding?

A) There are 50,000 shares issued and 65,000 shares outstanding.
B) There are 50,000 shares issued and 35,000 shares outstanding.
C) There are 50,000 shares issued and 50,000 shares outstanding.
D) There are 65,000 shares issued and 50,000 shares outstanding.