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Required information

E$11-2($Algo$)$ Computing Number of Shares L$011-1,11-3$

$[$The following information applies to the questions displayed below.$]$

The charter of Vista West Corporation specifies that it is authorized to issue $209,000$ shares of common stock. Since the

company was incorporated, it has sold a total of $157,000$ shares $($at $$16$ per share$)$ to the public. It has bought back a total

of $11,000.$ The par value of the stock is $$6.$ When the stock was bought back from the public, the market price was $$23.$

E$11-2$ Part $1$

Required:

Determine the authorized shares.