25 1 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: Common stock ($2 par value) Additional paid-in capital Retained earnings Common equity Net common equity $ 80,000 30,000 50,000 $160,000 Treasury stock (2,000 shares) 24,000 $136,000 a. How many shares are issued? Answer is complete and correct. Number of shares issued b. How many shares are outstanding? 40,000 Answer is complete and correct. Outstanding shares 38,000 c. How many more shares can be issued without the approval of shareholders? Answer is complete but not entirely correct. Number of shares issued Mc 120,000