**** Corporation had the following share amounts of common stock at year-end:

Authorized Shares 100,000 shares

Issued Shares 55,000 shares

Treasury Stock 7,000 shares

Calculate the following amounts at year-end (clearly labeling each amount and how you calculated it):

1. The number of Outstanding Shares _______
2. The maximum shares the corporation may issue ___________
3. The dollar amount of the Common Stock account assuming the market value at year-end and the par value is $10.

Suggested answer format:

1. Outstanding Share number = _____________
2. Maximum Share number = ____________
3. Balance in Common Stock account = $__________________