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13) Hayley's Optical has a stockholders' equity account as shown below. The firm's common stock currently sells for $20 per share. Preferred stock 500,000 Common
13) Hayley's Optical has a stockholders' equity account as shown below. The firm's common stock currently sells for $20 per share. Preferred stock 500,000 Common stock (2,000,000 shares @S1 par)2000,000 Paid-in capital in excess of par Retained earnings Total stockholders equity 10,000,000 11,600,000 $24,100,000 (a) What is the maximum dividend per share Hayley's Optical can pay? (Assume capital includes all paid-in capital.) (b) Recast the partial balance sheet (the stockholders' equity accounts) to show independently (I) a 2-for-1 stock split of the common stock. (2) a cash dividend of $1.50 per share. (3) a stock dividend of 5% on the common stock. (c) At what price would you expect Hayley's Optical stock to sell after (1) the stock split? (2) the stock dividend
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