The Corporation is authorized to issue 20,000 shares of 6% preference shares at P25 par value, and 50,000 ordinary shares at P20 par value The Corporation sold the following share On January 10, 2020, issued 10,000 ordinary shares for cash at P35 per share. On March 30, issued 8,000 preference shares for cash at P40 per share. On April 01, issued 12,000 preference shares in exchange for land with fair market value of P540,000 How many ordinary shares were not issued as of April 01? Select the correct response 40,000 shares 10,000 shares 220,000 shares