At the quarterly dividendmeeting, Wood Shoes declared a cash dividend of $1.31 per share for holders of record onMonday, July 10. The firm has 250,000 shares of common stock outstanding and has set a payment date of July 31. Prior to the dividenddeclaration, thefirm's key accounts were asfollows:

Cash $700,000 Dividends payable $0

Retained earnings $2,900,000

QUESTIONS

a.Show the entries after the meeting adjourned.

b.When is the ex-dividend date?

c.What values would the key accounts have after the July 31 paymentdate?

d.Whateffect, ifany, will the dividend have on thefirm's totalassets?

e.Ignoring general marketfluctuations, whateffect, ifany, will the dividend have on thefirm's stock price on theex-dividend date?