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How many more shares can be issued without the approval

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Reference no: EM132578759

The authorized share capital of the Alfred Cake Company is 120,000 shares. The equity is currently shown in the company's books as follows:

Common stock ($1 par value) $ 65,000
Additional paid-in capital 15,000
Retained earnings 35,000
Common equity $115,000
Treasury stock (2,000 shares) 9,000
Net common equity $106,000

Question a. How many shares are issued?

Question b. How many shares are outstanding?

Question c. How many more shares can be issued without the approval of shareholders?

Reference no: EM132578759

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