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The authorized share capital of the Alfred Cake Company is 110,000 shares. The equity is currently shown in the company's books as follows: Common stock

The authorized share capital of the Alfred Cake Company is 110,000 shares. The equity is currently shown in the company's books as follows:

Common stock ($2 par value)$73,000

Additional paid-in capital23,000

Retained earnings43,000

Common equity$139,000

Treasury stock (2,000 shares)17,000

Net common equity$122,000

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?

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