Dividend constraints: The Howe Company's stockholders' equity account is (please see chart below). The earnings available for common stockholders from this period's operations are $100,000, which have been included as part of the $2.1 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 $170,000 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 in parts a and b.

d. Indicate the effects of an $80,000 cash dividend on stockholders' equity.

Common stock (600,000 shares at $5 par)	$3,000,000
Paid-in capital in excess of par	4,000,000
Retained earnings	2,100,000
Total stockholders' equity	$9,100,000