Exercise $8\mathrm{.}12$ Common stock$-$calculate issue price and dividend amount The balance sheet caption for common stock is the following:

LO $8-1,8-3$

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\mathrm{.}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?