Question 52 2 pts TBT corporation purchased 10,000 shares of its P1 par ordinary shares at P10 and subsequently sold 7,000 shares at P20. What is the amount of gain realized from the sale that will be reported in the income statement? Answer pattern: 1,000 The charter of corporation provides for the issuance of 100,000 shares of common stock. Assume that 40,000 shares were originally issued and 5,000 were subsequently reacquired. Outstanding shares would be? Answer pattern: 10,000