Question

14-1)
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)$71,000   Additional paid-in capital 21,000   Retained earnings 41,000    Common equity$133,000   Treasury stock (2,000 shares) 15,000    Net common equity$118,000   

a.How many shares are issued? 

  Number of shares issued   

b.How many shares are outstanding? 

  Outstanding shares   

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

  Number of shares iss

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