Big Industries has the following market value balance sheet. The stock currently sells for $20 a share, and there are 1,120 shares outstanding. The firm will either pay a $1 per share dividend or repurchase $1,120 worth of stock. Ignore taxes. - 3 - Assets Liabilities and Equity Cashe 4,400 Debte $ 10,600 Fixed assets 28,600 Equity 22,400 a) What will be the subsequent price per share if the firm pays a dividend? What if the firm repurchases stock? (1 mark) Click here to enter text. b) If total earnings of the firm are $8,000 a year, find earnings per share if the firm pays a dividend. (0.5 marks) Click here to enter text. c) If total earnings of the firm are $8,000 a year, now find earnings per share if the firm repurchases stock. (0.5 marks) Click here to enter text. d) If total earnings of the firm are $8,000 a year, find the price-earnings ratio if the firm pays a dividend. E., Hl(Alt + A) Click here to enter text. (0.5 marks) e) If total earnings of the firm are $8,000 a find the price-earnings ratio if the firm repurchases stock. (0.5 marks) Click here to enter text. f) Adherents of the "dividends-are-good" school sometimes point to the fact that stocks with high dividend payout ratios tend to sell at above-average price-earnings multiples. Is Big Industries' P/E ratio higher if it pays a dividend