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) $ 66,000 Additional paid-in capital 16,000 Retained earnings 36,000 Common equity $ 118,000 Treasury stock (1,000 shares) 10,000 Net common equity $ 108,000

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?