Problem 10-08 A firm has the following balance sheet: Assets Liabilities and Equity Cash $ 25,000 Accounts payable $ 25,000 Accounts receivable 160,000 Long-term debt 96,000 Inventory 90,000 Common stock (38 par 24,000 3,000 shares outstanding) plant and equipment 170,000 Additional paid in capital 150,000 Retained earings 150,000 $445,000 $445,000 a. Construct a new balance sheet showing the impact of a four-for one split. If the current market price of the stock is $58, what is the price after the split? Round the par volue 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 Liabilities and Equity Cash Accounts payable Accounts receivable Long term debt 5 Inventory 11.00 5 Common stock (s par: shares outstanding) Additional paid in Capital plant and equipment Bened earnings 0 x Price of the common stock ter the sit: b. Construct a new stance sheet showing the impact dia 10 percent stock didend. Nter the stock dividend is the new pace of the common stock? Use the original balance sheet from the problem statement. Round the par value and the market price after the stock divided to the best cent. the ber of sevding to the rest while the other awers to the newest do abilities and Equity Accounts payable Accounts receivable Lastomer 101 Inventory T11 Common des and met outstanding) Aditional capital A-Z Price of the common stock ter the stock divide