The stockholders' equity section of the balance sheet for Alaska Outfitters' at December 31, 2X03 follows:

Common stock, $2 par, 25,000 shares authorized $ 20,000

Additional paid-in capital 10,000

Retained earnings 80,000

Total contributed capital and retained earnings 110,000

Less: Treasury stock, 1,000 shares at cost 10,000

Total stockholders' equity $ ?

1. ________ How many shares of common stock are issued?

2. ________ How many shares of common stock are outstanding?

3. ________ How many shares of common stock will receive dividends if dividends are declared?