To find the required values, let's break down the information step by step:

1. How many shares are issued?

   • Common stock ($2 par value) is reported as $69,000.
   • The par value of each share is $2.

   The number of shares issued can be calculated as: $\text{Shares issued} = \frac{\text{Common stock}}{\text{Par value}} = \frac{69,000}{2} = 34,500 \text{ shares}$

2. How many shares are outstanding?

   • Treasury stock is 4,000 shares. Treasury shares are shares that have been issued but are no longer outstanding because the company has repurchased them.

   The number of outstanding shares is: $\text{Shares outstanding} = \text{Shares issued} - \text{Treasury shares} = 34,500 - 4,000 = 30,500 \text{ shares}$

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

   • The authorized share capital is 120,000 shares.
   • The company has already issued 34,500 shares.

   The number of shares that can be issued without shareholder approval is: $\text{Shares available for issue} = \text{Authorized shares} - \text{Shares issued} = 120,000 - 34,500 = 85,500 \text{ shares}$

Summary:

• Shares issued: 34,500 shares
• Shares outstanding: 30,500 shares
• Shares that can be issued without shareholder approval: 85,500 shares

Would you like further clarification on any part of this solution?

Here are some related questions to expand on this topic:

1. What is the difference between common stock and treasury stock?
2. How does issuing additional shares affect a company’s equity?
3. What is the significance of par value in share capital?
4. How does retained earnings relate to the overall equity of a company?
5. What are the potential implications of repurchasing shares for a company?

Tip: Issuing new shares dilutes existing ownership, so companies need to consider the balance between raising capital and shareholder interest.