Bakersfield Processing has 2,000,000 shares of $3 Par Common stock authorized. Bakersfield has issued some of these shares and is showing $840,000 in its Common Stock account and $3,600,000 in its Additional Paid-in Capital account. How many shares of Angus stock have been issued?

Multiple Choice

• 1,480,000

• 240,000

• 1,200,000

• The number of shares cannot be determined using the information provided.