The authorized share capital of the Alfred Cake Company is 100,000 shares. The equity is currently shown in the company’s books as follows:

Common stock ($1 par value)....................................$ 60,000
Additional paid-in capital...............................................10,000
Retained earnings...........................................................30,000
Common equity..........................................................$100,000
Treasury stock (2,000 shares)..........................................5,000
Net common equity....................................................$ 95,000

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?