The authorized share capital of the Alfred Cake Company is 100,000 shares. The equity is currently shown in the companys books as follows:

Common stock ($1 par value)$61,000

Additional paid in capital$11,000

Retained earnings$31,000

Common Equity$103,000

Treasury Stock (2,000 shares)5,000

Net common equity$98,000

1. How many shares are issued?_________
2. How many shares are outstanding_________
3. How many more shares can be issued without the approval of shareholders?