The corporate charter of Sheridan Company allows the issuance of a maximum of 4,500,000 shares of $1 par value common stock. During its first three years of operation, David issued 2,680,000 shares at $14 per share. It later acquired 78,000 of these shares as treasury stock for $22 per share. Based on the above information, answer the following questions: (a) How many shares were authorized? Authorised shares (b) Save for Later shares Attempts: 0 of 1 used The parts of this question must be completed in order. This part will be available when you complete the part above Submit Answer

The corporate charter of Sheridan Company allows the issuance of a maximum of 4,500,000 shares of $1 par value common stock. During its first three years of operation, David issued 2,680,000 shares at $14 per share. It later acquired 78,000 of these shares as treasury stock for $22 per share. Based on the above information, answer the following questions: (a) How many shares were authorized? Authorised shares shares