Balance sheet for common stock:

Common stock without par value, 3,100,000 shares authorized, 890,000 shares issued, and 720,000 shares outstanding

$

2,800,000

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

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

Common stock at stated value of $1 per share; 3,100,000 shares authorized, 890,000 issued and 720,000 shares outstanding
Additional Paid-in Capital
Total Paid in Capital

3. If a cash dividend of $0.10 per share were declared, calculate the total amount of cash that would be paid to stockholders