How many shares are outstanding

Reference no: EM132984771

Question: 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)$74,000
Additional paid-in capital 24,000
Retained earnings 44,000
Common equity $142,000
Treasury stock (1,000 shares) 18,000
Net common equity$124,000

a. How many shares are issued?

b. How many shares are outstanding?

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

Reference no: EM132984771

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