Question No2 The year-end balance sheet of Manor, Inc., includes the following stockholders' equity section (with certain details omitted): Stockholders' equity: 10% cumulative preferred stock, $100 par value, authorized 100,000 shares.. $ 4,400,000 Common stock, $2 par value, authorized 2,000,000 shares Additional paid-in capital: common stock. Retained earnings Total stockholders' equity Instructions From this information, compute answers to the following questions: a) What is the amount of legal capital? (1 marks) b) What is the total amount of paid-in capital? (2 marks) 3,400,000 .6,800,000 ..3,160,000 ..$17,760,000 c) What is the book value per share of common stock? (There are no dividends in arrears.) (2 marks) d) Assume that retained earnings at the beginning of the year amounted to $1,200,000 and the net income for the year was $4,800,000. What was the dividend declared during the year on each share of common stock? (Hint: Net income increases retained earnings, whereas dividends decrease retained earnings.) (2 marks)