Corporate Finance McGraw Hill Connect Home
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?
c. How many more shares can be issued without the approval of shareholders?