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:

Common stock ($1 par value) $ 74,000

Additional paid-in capital 24,000

Retained earnings 44,000

Common equity $ 142,000

Treasury stock (1,000 shares) 18,000

Net common equity $ 124,000

How many shares are issued? How many shares are outstanding? How many more shares can be issued without the approval of shareholders?