Exercise 8-11 (Static) Common stock balance sheet disclosure LO 8-1

The balance sheet caption for common stock is the following:

Common stock, $5 par value, 6,000,000 shares authorized, 4,200,000 shares issued, 3,750,000 shares outstanding	$ ?

Required:

1. Calculate the dollar amount that will be presented opposite this caption.
2. Calculate the total amount of a cash dividend of $0.40 per share.
3. What accounts for the difference between issued shares and outstanding shares?