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On the first day of your IPO assume you (a) sold 543 million shares of $.000006 par value common stock for $38.23. Subsequent to the
On the first day of your IPO assume you (a) sold 543 million shares of $.000006 par value common stock for $38.23. Subsequent to the stock sale, your company (b) declared cash dividends of ($.03/share) and (c) purchased treasury stock (1 million shares at $42.28). Explain how (a), (b) and (c) will impact and be displayed on the balance sheet and the income statement.
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