The authorized share capital of the Alfred Cake Company is 120,000 shares. The equity is currently shown in the companys books as follows:

Common stock ($2 par value)$78,000Additional paid-in capital 28,000Retained earnings 48,000Common equity$154,000Treasury stock (5,000 shares) 22,000Net common equity$132,000

a. How many shares are issued?

b. How many shares are outstanding?

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

The authorized share capital of the Alfred Cake Company is 120,000 shares. The equity is currently shown in the company's books as follows: a. How many shares are issued? b. How many shares are outstanding? Outstanding shares c. How many more shares can be issued without the approval of shareholders