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The authorized share capital of the Alfred Cake Company is 160,000 shares. Currently 22,500 shares are issued and outstanding. The equity is currently shown in the companys books as follows:

Common stock	$	85,000
Retained earnings		32,500
Common equity		117,500

a. How many more shares can be issued without the approval of shareholders?

Number of shares that can be issued

=

b. If the company issues 10,500 shares at $5.85 a share, show how this will appear in the companys books. (Enter your answers in thousands of dollars. Round your answers to 1 decimal place.)

Common Shares	$
Retained Earnings	$
Net Common Equity	$