The authorized share capital of the Alfred Cake Company is 100,000 shares. The equity is currently shown in the company's books as follows:
Common stock ($1 par value) $61,000
Additional paid in capital $11,000
Retained earnings $31,000
Common Equity $103,000
Treasury Stock (2,000 shares) 5,000
Net common equity $98,000
- How many shares are issued? _________
- How many shares are outstanding _________
- How many more shares can be issued without the approval of shareholders?