Spoedig Handelaars is a logistic company based in Polokwane, South Africa. they are currently deciding whether to pay out R120 000 in excess cash in the form of an extra dividends or implement a share buyback/repurchase. Their profits for the current year are R1,95 per share and the share sells for R18. Their summarised balance sheet prior to the dividend payment is as follows (All figures ZAR) Equity 800 000 Debt 200 000 Tangible Assets 600 000 Inventory 5 000 Receivables 275 000 Bank/Cash 120 000 Evaluate each alternative by: 1.1 Calculate the number of shares in issue. 1.2 The dividends per share (for the first alternative, i.e pay the dividend) 1.3 Calculate the new share price, the EPS and the price-earnings ratio 1.4 What alteratives do you consider to be the best? Why