The authorized share capital of the Alfred Cake Company is 120,000 shares. The quity is currenty shown in the company's books as follows: Common stock ($2 par value) Additional paid-in capital Retained earnings Common equity Treasury stock (5,000 shares) Net common equity $ 78,000 28,000 48,000 $154,000 22,000 $132,000 a. How many shares are issued? &Answer is complete but not entirely correct. Number of shares issued 44,000 b. How many shares are outstanding? Answer is complete but not entirely correct. 39,000 Outstanding shares ??? Next > 1 of 4