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Which statements is correct for red company

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Reference no: EM132769846

Red Company has provided the following information:

  • 200,000 shares of $5 par value common stock are authorized
  • 160,000 shares have been issued
  • 145,000 shares are outstanding

Problem 1: Which of the following statements is correct?

Option 1: Red can issue an additional 55,000 shares of common stock.
Option 2: Red can issue an additional 15,000 shares of common stock.
Option 3: Red has 15,000 shares of treasury stock.
Option 4: Red has 55,000 shares of treasury stock.

Reference no: EM132769846

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