The authorized share capital of the Alfred Cake Company is 100,000 shares. Currently 20,000 shares are issued and outstanding. The equity is currently shown in the company's books as follows: Common stock Retained earnings Common equity $60,000 30,000 90,000 a. How many more shares can be issued without the approval of shareholders? Number of shares that can be issued b. If the company issues 10,000 shares at $5 a share, show how this will appear in the company's books (Enter your answers in thousands of dollars. Round your answers to 1 decimal place.) Common Shares Retained Earnings Net Common Equity References eBook & Resources Worksheet Problem 14-1 Equity Accounts (LO2)