Phillips Rock and Mud is trying to determine the maximum amount of cash dividends it can pay this year. Assume its balance sheet is as follows: Cash Accounts receivable Fixed assets Total assets Liabilities and Stockholders' Equity Accounts payable Long term payable Common stock (290,000 shares at $1 par) Retained earnings Total liabilities and stockholders' equity Dividends per share Assets a-2. Is this realistic? O Yes O No $ a-1. From a legal perspective, what is the maximum amount of dividends per share the firm could pay? (Do not round intermediate calculations and round your answer to 2 decimal places.) Dividends per share 327,000 860,000 1,026,000 $2,213,000 $ 514,000 301,000 290,000 1,108,000 $2,213,000 b. In terms of cash availability, what is the maximum amount of dividends per share the firm could pay? (Do not round intermediate calculations and round your answer to 2 decimal places.)

Phillips Rock and Mud is trying to determine the maximum amount of cash dividends it can pay this year. Assume its balance sheet is as follows: Assots Cash Accounts receivable Fixed assets Total assets Liabilities and stockholders' Equity Accounts payable Long tern payable Coenton stock 1290 hetained earnings zotal 1Labiuities and stockholders' equity 32,213,0001,108,000 \& 327,000 860,000 1,026,000 $2,213,000 a-1. From a legal perspective, what is the maximum amount of dividends per share the firm could pay? (Do not round intermediate calculations and round your answer to 2 decimal places.) Dividends per share a-2. Is this realistic? Yes No b. In terms of cash availability, what is the maximum amount of dividends per share the firm could pay? (Do not round intermediate calculations and round your answer to 2 decimal places.) Ovidends per share