Dividend constraints The Howe Company's stockholders' equity account is as follows: . The earnings available for common stockholders from this period's operations are $100,000, which have been included as part of the $1.9 million retained earnings. a. What is the maximum dividend per share that the firm can pay? (Assume that legal capital includes all paid-in capital.) b. If the firm has $180,000 in cash, what is the largest per-share dividend it can pay without borrowing? c. Indicate the accounts and changes, if any, that will result if the firm pays the dividends indicated d. Indicate the effects of an $80,000 cash dividend on stockholders' equity. parts a and b Common stock (800,000 shares at $8 par) Paid-in capital in excess of par Retained earnings $6,400,000 3,000,000 1,900,000 Total stockholders' equity $11,300,000