011-4, 1011-5 PROBLEM 11.5A ay of an Equity Section of a Balance Sheet MARIA AUKLAN; IN, basance sheet The year-end balance sheet of Ft. Smith Products includes the following stockholders' equity section (with certain details omitted). Stockholders' equity: 7% cumulative preferred stock, $100 par value, 100,000 shares authorized. Common stock, $2 par value, 900.000 shares authorized Additional paid-in capital: common stock) Retained earnings.. Total stockholders' equity $2,400,000 900,000 8,325,000 2,595,000 $14,220,000 e. What is the amount of legal capital? 000 f. What is the total amount of paid-in capital? g. What is the book value per share of common stock? (There are no dividends in arrears.) h. Assume that retained earnings at the beginning of the year amounted to $717,500 and that net income for the year was $3,970,000. What was the dividend declared during the year on each share of common stock? (Hint: Net income increases retained earnings, whereas dividends decrease retained earnings.)