Also: How many more shares can be issued without the approval of shareholders?

The authorized share capital of the Alfred Cake Company is 110,000 shares. The equity is currently shown in the company's books as follows: Common stock ($2 par value) $ 62, 000 Additional paid-in capital 12, 000 Retained earnings 32, 000 Common equity $106, 000 Treasury stock (1, 000 shares) 6, 000 Net common equity $100, 000 a. How many shares are issued? Number of shares issued b. How many shares are outstanding? Outstanding shares