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How many shares are outstanding

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Question - 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 $145,090

Treasury stock (2,000 shares) 19,000

Net common equity $126,000

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: EM133043160

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