Interpreting Shareholders' Equity Section Answer the Following Questions Based on the Shareholders' Equity Section

Interpreting shareholders' equity section.
The shareholders' equity section of the balance sheet of Powell Corporation (with certain details omitted) appears below:
$\begin{array}{llr} \text { Shareholders'Equity } &\\ \text {8\% ron-cumulative preferenoe share, \$100 par; 100,000 shares authorized, ?shares issued } &\$1,900,000\\ \text { Orlinary share, \$5 par, 200,000 shares authorized, ??shares issued} &950,000\\ \text { Share preminim} &\\ \text {Preference share } &106,000\\ \text { Ordinary share } &1,970,000\\\\ \text {Issued and fully paid capital: } &\$4,926,000\\ \text {Retained eaming:) } &1,170,000\\\\ \text { Total shareholders' equity} &\$6,096,000\\\end{array}$
Answer the following questions based on the shareholders' equity section given above:
(a) What is the total amount of legal capital?
(b) What is the total amount of dividends paid annually to the preference shareholders?
(c) What is the average issue price of a share of ordinary share?
(d) The balance in retained earnings at the beginning of the current year was $1,351,500, and there were no dividends in arrears. Profit for the current year was $700,000. What is the amount of the dividends declared on each share of ordinary share during the current year?
(a) $2,850,000
(b) $152,000
(c) $15.37 per share
(d) $3.84 per share
Computations