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 ($2 par value) Additional paid-in capital Retained earnings Common equity Treasury stock (2,000 shares) Net common equity a. How many shares are issued? b. How many shares are outstanding? $ 80,000 30,000 50,000 $ 160,000 24,000 $ 136,000 c. How many more shares can be issued without the approval of shareholders? a. Number of shares issued b. Outstanding shares c. Number of shares issued