Exercise 8-10 (Static) 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, 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? 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 > Exercise 8-10 (Static) 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, 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? 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; 7,500,000 shares authorized, 3,000,000 issued and 2,700,000 shares outstanding Additional paid in capital Total paid in capital < Required A Required C > Exercise 8-10 (Static) 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, 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? Required A Required B Required C Required D If a cash dividend of $1.60 per share were declared, calculate the total amount of cash that would be paid to stockholders. Total cash dividend < Required B Required D > Exercise 8-10 (Static) 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, 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? Required A Required B Required C Required D What accounts for the difference between issued shares and outstanding shares? Difference between issued shares and outstanding shares < Required C Required D >