The balance sheet caption for common stock is the following:
Common stock without par value, 2,000,000 shares authorized, 400,000 shares issued, and 360,000 shares outstanding; $2,600,000

a) Calculate the average price at which the shares were issued;
Price= $

b) If a cash dividend of $0.60 per share were declared, calculate the total amount of cash that would be paid to stockholders.
Cash=

d) What accounts for the difference between issued shares and outstanding shares?