Business, 19.10.2021 08:20 staxeeyy767

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 $ 312,500 Accounts receivable 800,000 Fixed assets 987,500 Total assets $ 2,100,000 Liabilities and Stockholders' Equity Accounts payable $ 445,000 Long term payable 280,000 Common stock (250,000 shares at $2 par) 500,000 Retained earnings 875,000 Total liabilities and stockholders' equity $ 2,100,000 a-1. From a legal perspective, what is the maximum amount of dividends per share the firm could pay

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Phillips Rock and Mud is trying to determine the maximum amount of cash dividends it can pay this ye...