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: Assets Cash $ 386,000 Accounts receivable 836,000 Fixed assets 1,048,000 Total assets $2,270,000 Liabilities and Stockholders Equity Accounts payable $ 459,000 Long-term payable 371,000 Common stock (295,000 shares at $1 par) 295,000 Retained earnings 1,145,000 Total liabilities and stockholders