The balance sheet caption for common stock is the following: Common stock without par value, 7,500,000 shares

Question:

The balance sheet caption for common stock is the following:

Common stock without par value, 7,500,000 shares authorized,
3,000,000 shares issued, and 2,700,000 shares outstanding ............................ $38,250,000

Required:

a. Calculate the average price at which the shares were issued.

b. If these shares had been assigned a stated value of $1 each, show how the caption here would be different.

c. If a cash dividend of $1.60 per share were declared, calculate the total amount of cash that would be paid to stockholders.

d. What accounts for the difference between issued shares and outstanding shares?

Common Stock
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