Ashkenazi Companies has the following stockholders' equity account: Common stock (301,165 shares at $3 par) Paid-in...

Transcribed Image Text:

Ashkenazi Companies has the following stockholders' equity account: Common stock (301,165 shares at $3 par) Paid-in capital in excess of par $903,495 2,350,049 Retained earnings 746,456 Total stockholders' equity $4,000,000 Assuming that state laws define legal capital as the par value of common stock, what dividend per-share can Ashkenazi pay? If legal capital were more broadly defined to include all paid-in capital, what dividend could Ashkenazi pay? Assuming that state laws define legal capital as the par value of common stock, the dividend per-share Ashkenazi can pay is $ (Round to the nearest cent.) Ashkenazi Companies has the following stockholders' equity account: Common stock (301,165 shares at $3 par) Paid-in capital in excess of par $903,495 2,350,049 Retained earnings 746,456 Total stockholders' equity $4,000,000 Assuming that state laws define legal capital as the par value of common stock, what dividend per-share can Ashkenazi pay? If legal capital were more broadly defined to include all paid-in capital, what dividend could Ashkenazi pay? Assuming that state laws define legal capital as the par value of common stock, the dividend per-share Ashkenazi can pay is $ (Round to the nearest cent.)