1 Problem 14-5 Equity Accounts (LO3) 25 points 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: eBook Hint Print References Common stock ($2 par value) Additional paid in capital Retained earnings Common equity Treasury stock (2,000 shares) Net common equity a. How many shares are issued? Number of shares issued $ 80,000 30,000 50,000 $160,000 24,000 $136,000 b. How many shares are outstanding? Outstanding shares c. How many more shares can be issued without the approval of shareholders? Number of shares issued 13