Equity Accounts. 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:

a. How many shares are issued?

b. How many are outstanding?

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

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Common stock ($1.00 par value) Additional paid-in capital $ 60,000 10,000 Retained earnings 30,000 Common equity 100,000 Treasury stock (2,000 shares) 5,000 Net common equity 95,000