East Coat Inc. is a public firm that currently has 15,000 shares of stock outstanding that have a current market price of $22 per share. 1. If the company distributes a cash dividend of $3 per share instead. Estimate the share price after the ex-dividend date. Explain why you expect the price to change. 2. The firm's most recent balance sheet before the payment of the dividend is shown below. Reconstruct the balance sheet after payment of the cash dividend Cash 60,000 Accounts receivables 32,000 Inventories 40,000 Current Assets 132,000 Fixed Assets 220,000 Accounts payable Notes payable Current liabilities Long-term debt Equity Total debt and shareholders's equity 28,000 12,000 40,000 95,000 217.000 Total Assets 352,000 352,000 3. If the company cecides instead to distribute a 25% stock dividend, all else remains constant, estimate the new number of shares and the new share price after this stock dividend distribution 4. Consider now that the company will perform a five-for-one stock split, estimate the new number of shares and new share price Type your answers in the answer box and highlight your final answers (Do not attach a link) Optional Excel sheet for your workings