Exercise 8-10 (Algo) Common stock-calculate issue price and dividend amount LO 1 The balance sheet caption for common stock is the following: Common stock without par value, 4,700,000 shares authorized, 870,000 shares issued, and 710,000 shares outstanding $ 2,800,000 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 $0.18 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? Required A Required B Required C Required D Calculate the average price at which the shares were issued. (Round your answer to 2 decimal places.) Average issue price per share Required A Required B > Required A Required B Required C Required D 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; 4,700,000 shares authorized, 870,000 issued and 710,000 shares outstanding Additional paid in capital Total paid in capital Required A Required B Required C Required D If a cash dividend of $0.18 per share were declared, calculate the total amount of cash that would be paid to stockholders. Total cash dividend