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How many more shares can be issued without the approval

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Reference no: EM132992656

The authorized share capital of the Alfred Cake Company is 120,000 shares. The equity is currently shown in the company's books as follows:

common stock ($2 par value) $ 80,000
Additional paid-in capital 30,000
Retained earnings 50,000
= $160,000

treasury stock (5,000 shares) 24,000
= 136,000

Problem a. how many shares are issued?

Problem b. How many shares are outstanding?

Problem c. How many more shares can be issued without the approval of shareholders?

Reference no: EM132992656

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