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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


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