Required information [The following information applies to the questions displayed below.] The charter of the Corinthos Corporation specifies that it is authorized to issue 204,000 shares of common stock. Since the company was incorporated, it has sold a total of 150,000 shares (at $16 per share) to the public. It has bought back a total of 14,000. The par value of the stock is $3. When the stock was bought back from the public, the market price was $25. Required: 1. Determine the authorized shares. Authorized shares