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How many shares are outstanding

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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: EM133180175

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