The balance sheet caption for common stock is the following:

Common stock, $3 par value, 2,700,000 shares authorized, 1,320,000 shares issued, 1,000,000 shares outstanding$?

1. Required:Calculate the dollar amount that will be presented opposite this caption.
2. Calculate the total amount of a cash dividend of $0.18per share.
3. What accounts for the difference between issued shares and outstanding shares?