The balance sheet caption for common stock is the following:

Common stock without par value, 3,300,000 shares authorized, 830,000 shares issued, and 680,000 shares outstanding$2,100,000

Required:

1. Calculate the average price at which the shares were issued.
2. If these shares had been assigned a stated value of $1 each, show how the caption here would be different.
3. If a cash dividend of $0.13 per share were declared, calculate the total amount of cash that would be paid to stockholders.
4. What accounts for the difference between issued shares and outstanding shares?