Common stock without par value, 4,900,000 shares authorized, $790,000

Shares issued, and 740,000 shares outstanding $3,300,000

Required:

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.
3. If a cash dividend of $0.15 per share were declared, calculate the total amount of cash that would be paid to stockholders.
4. What accounts for the difference between issued shares and outstanding shares?