Use the information below to answer the following question(s):

Common stock, $1 par, 100,000 shares

authorized, ___________ shares issued $ 40,000

Additional paid-in capital 160,000

Retained earnings 100,000

Treasury stock (1,000 shares at cost) ( 6,000)

Total shareholders equity $294,000

How many shares of common stock have been issued?

a. 100,000 shares

b. 40,000 shares

c. 1,000 shares

d. 39,000 shares