P154 The stockholders' equity account of Synthetic Company 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 in the $1,200,000 retained earnings. a. Calculate the maximum dividend per share that the firm can pay if the legal capital includes all paid-in capital. b. Calculate the maximum dividend per share that the firm can pay if the legal capital includes only the value of the common stock. c. If Synthetic Company has $25,000 in cash, what is the largest per-share dividend the firm can pay without borrowing, assuming legal capital includes all paid-in capital? d. What is the purpose of capital impairment restrictions when developing a dividend policy