=+LG 3 P14–4 Dividend constraints Plastic Enterprises’ stockholders’ equity account is as follows:

Common stock (280,000 shares at $3.50 par) $980,000 Paid-in capital in excess of par $900,000 Retained earnings $1,200,000 Total stockholders’ equity $3,080,000 The earnings available for the common stockholders are $280,000 and are included as part of the $1,200,000 retained earnings.