Problem 10-08 A firm has the following balance sheet: Assets Liabilities and Equity Cash $ 20,000 Accounts payable $ 20,000 Accounts receivable 159,000 Long-term debt 112,000 Inventory 97,000 Common stock ($10 par; 30,000 3,000 shares outstanding) Plant and equipment 190,000 Additional paid-in capital 155,000 Retained earnings 149,000 $466,000 $466,000 Construct a new balance sheet showing the impact of a two-for-one split. If the current market price of the stock is $51, 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 Liabilities and Equity Cash $ Accounts payable $ Accounts receivable $ Long-term debt $ Inventory $ Common stock ($ par; $ shares outstanding) Plant and equipment $ Additional paid-in capital $ Retained earnings $ $ $ Price of the common stock after the split: $ Construct a new balance sheet showing the impact of a 10 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 Cash $ Accounts payable $ Accounts receivable $ Long-term debt $ Inventory $ Common stock ($ par; $ shares outstanding) Plant and equipment $ Additional paid-in capital $ Retained earnings $ $ $ Price of the common stock after the stock dividend: $