The authorized share capital of the Alfred Cake Company is 150,000 shares. The equity is currently shown in the company’s books as follows:
Common stock ($1 par value) $ 75,000 Additional paid-in capital 25,000 Retained earnings 45,000 Common equity 145,000 Treasury stock (2,000 shares) 19,000
Net common equity $ 126,000
a. How many shares are issued?Number of shares issued?
b. How many are outstanding?Outstanding shares
c. How many more shares can be issued without the approval of shareholders?Number of shares issued