The corporate charter of Elmer Corporation allows the issuance of a maximum of 100,000 shares of…

 
   

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The corporate charter of Elmer Corporation allows the issuance of a maximum of 100,000 shares of common stock. During its first 2 years of operation, Elmer sold 70,000 shares to shareholders and reacquired 4,000 of these shares. After these transactions, how many shares are authorized, issued, and outstanding? View Solution:
The corporate charter of Elmer Corporation allows the issuance o