14-1)

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

Common stock ($1 par value)$71,000Additional paid-in capital21,000Retained earnings41,000Common equity$133,000Treasury stock (2,000 shares)15,000Net common equity$118,000

a.How many shares are issued?

Number of shares issued

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