The authorized share capital of the Alfred Cake Company is 160,000 shares. Currently 28,000 shares are issued and outstanding. The equity is currently shown in the companys books as follows:

Common stock	$	140,000
Retained earnings		38,000
Common equity		178,000

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 11,600 shares at $7.72 a share, show how this will appear in the companys books. (Enter your answers in thousands of dollars. Round your answers to 1 decimal place.)

Common Shares	$
Retained Earnings	$
Net Common Equity	$