The balance sheet caption for common stock is:
Common stock, $10 par value, 7,000,000 shares authorized, 5,700,000 shares issued, 5,500,000 shares outstanding.
(a) Calculate the dollar amount that will be presented opposite of this caption.
(b) Calculate the total amount of a cash dividend of $1.00 per share.
(c) What accounts for the difference between issued shares and outstanding shares?