Anole Company was incorporated as a new business on January 1, 2016 . The company is authorized to issue 20,000 shares of $5 par value common stock and 10,000 shares of 6%, $10 par value, cumulative, participating preferred stock. On January 1, 2016, the company issued 8,000 shares of common stock for $15 per share and 2,000 shares of preferred stock for $30 per share. Net income for the year
ended December 31, 2016, was $375,000. Refer to the information about Anole Company. The number of Anole's unissued shares of common stock at December 31, 2016, is
a. 6,000.
b. 8,000.
c. 10,000.
d. 12,000.
d
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