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The balance sheet for Pie Crust, Inc., is shown here in market value terms. There are 28,000 shares of stock outstanding. Market Value Balance Sheet

The balance sheet for Pie Crust, Inc., is shown here in market value terms. There are 28,000 shares of stock outstanding.


Market Value Balance Sheet



Cash $176,000
Fixed assets 557,040 Equity $733,040


Total $733,040 Total $733,040






The company has declared a dividend of $1.60 per share. The stock goes ex-dividend tomorrow. Ignore all tax effects.

Requirement 1:

What is the stock selling for today? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Stock price $
Requirement 2:

What will it sell for tomorrow? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Stock price $
Requirement 3:
What will the balance sheet look like after the dividends are paid?





Cash $ Equity $
Fixed assets


Total
$ Total $





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