How many shares are outstanding

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Reference no: EM132996761

Question - The authorized share capital of the Alfred Cake Company is 110,000 shares. The equity is currently shown in the company's books as follows:

Common stock ($2 par value) $73,000

Additional paid-in capital 23,000

Retained earnings 43,000

Common equity $139,000

Treasury stock (2,000 shares) 17,000

Net common equity $122,000

Required -

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: EM132996761

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