Busi 530 Corporate Finance McGraw Hill Connect Home work 6

The authorized share capital of the Alfred Cake Company is 150,000 shares. The equity is currently shown in the company’s books as follows:

Common stock ($1 par value) $ 75,000
Additional paid-in capital 25,000
Retained earnings 45,000

Common equity 145,000
Treasury stock (2,000 shares) 19,000

Net common equity $ 126,000

a. How many shares are issued?
Number of shares issued?
b. How many are outstanding?
Outstanding shares
c. How many more shares can be issued without the approval of shareholders?
Number of shares issued