The authorized common stock of SP Plumbing and Heating company is 150,000. The company's financial statement, the
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The authorized common stock of SP Plumbing and Heating company is 150,000. The company's financial statement, the shareholders equity is accounted for as follows:
Common stock ($2 par value) | $ 80,000 |
Additional paid-in capital | 13,000 |
Retained earnings | 43,000 |
Common equity | $ 136,000 |
Treasury stock (4,000 shares) | 6,000 |
Net common equity | $ 130,000 |
a) How many shares are issued?
b) How many shares are outstanding?
c) How many more shares can be issued without the approval of shareholders?
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1337788281
3rd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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