The balance sheet caption for common stock is the following:

Common stock, $5 par value, 2,000,000 shares authorized, 1,400,000 shares issued, 1,3 00,000 shares outstanding

$ ???

1. Calculate the dollar amount that will appear in the caption above.

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1. Calculate the total amount of a cash dividend of $0.15 per share.

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1. What accounts for the difference between the issued shares and outstanding shares?

[no calculations; just explain the difference]