T The following information is for questions $3$ and $4.$ Philips Rock and Mud is trying to determine the maximum amount of cash dividends it can pay this year. The company has $250,000$ shares outstanding. Assume its balance sheet is as follows: Assets Cash $ $412,500$ Accounts Receivable $900,000$ Fixed Assets $987,500$ $$2,300,000$ Liabilities and Shareholders$$ Equity Accounts Payable $ $445,000$ Long$-$term Payable $280,000$ Common Stock $600,000$ Retained earnings $975,000$ $$2,300,0003.$ From a legal perspective, what is the maximum amount of dividends the firm could pay? $4..$ In terms of cash availability, what is the maximum amount of dividends per share the firm could pay? The following information is for question $5.$ The Western Pipe Company has the following capital section in its balance sheet. Its stock is currently selling for $$5$ per share Common Stock $(50,000$ shares at $$1$ par$)$ $$50,000$ Capital in Excess of Par $50,000$ Retained Earnings $100,000$ $$200,000$