Morris corporation is publicy owned and its shares are traded on a national stock exchange. morris has 16,000 shares of $25 stated value common stock authorized. only 75% of these shares have been issued and of the shares issued only 11,000 are outstanding. on december 31 20X1 the stockholders equity section revealed that the balance in pain-in capital in excess of stated value was 140,000 and the balance in the retained earnings was 110,000. treasurey stock was purchased at an average cost of 37.50 per share. Calculate the number of shares in the treasury.