Problem 10-08 A firm has the following balance sheet: $ $ Assets Cash Accounts receivable Inventory 15,000 153,000 133,000 Liabilities and Equity Accounts payable Long-term debt Common stock ($10 par; 4,500 shares outstanding) Additional paid-in capital Retained earnings 15,000 119,000 45,000 Plant and equipment 180,000 159,000 143,000 $481,000 $481,000 a. Construct a new balance sheet showing the impact of a four-for-one split. If the current market price of the stock is $50, what is the price after the split? Round the par value and the market price after the split to the nearest cent, the number of shares outstanding to the nearest whole number, and the other answers to the nearest dollar. Assets Cash Liabilities and Equity Accounts payable Accounts receivable Long-term debt Inventory Common stock ($ par; shares outstanding) Additional paid-in capital Plant and equipment Retained earnings Price of the common stock after the split: $ b. Construct a new balance sheet showing the impact of a 5 percent stock dividend. After the stock dividend, what is the new price of the common stock? Use the original balance sheet from the problem statement. Round the par value and the market price after the stock dividend to the nearest cent, the number of shares outstanding to the nearest whole number, and the other answers to the nearest dollar. Assets Liabilities and Equity Accounts payable Cash Accounts receivable Long-term debt Inventory Common stock ($ par; shares outstanding) Additional paid-in capital Plant and equipment Retained earnings Price of the common stock after the stock dividend: $