Problem 17-5 Regular Dividends [LO1]

The balance sheet for Quinn Corporation is shown here in market value terms. There are 10,000 shares of stock outstanding.

Market Value Balance Sheet
Cash	$ 45,300	Equity	$ 515,300
Fixed assets	470,000
Total	$ 515,300	Total	$ 515,300

The company has declared a dividend of $1.60 per share. The stock goes ex dividend tomorrow.

Ignoring any tax effects, what is the stock selling for today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Ignoring any tax effects, what will it sell for tomorrow? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Ignoring any tax effects, what will the balance sheet look like after the dividends are paid? (Do not round intermediate calculations.)