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The balance sheet for Quinn Corporation is shown here in market value terms. There are 28,000 shares of stock outstanding. Cash Market Value Balance

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The balance sheet for Quinn Corporation is shown here in market value terms. There are 28,000 shares of stock outstanding. Cash Market Value Balance Sheet Fixed assets Total $ 111,000 524,600 Equity $ 635,600 $ 635,600 Total $ 635,600 The company has declared a dividend of $.80 per share. The stock goes ex dividend tomorrow. Ignore any tax effects. a. What is the stock selling for today? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. b. What will it sell for tomorrow? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. a. Stock price today $ b. Stock price tomorrow $ 22.70 21.90 c. What will the balance sheet look like after the dividends are paid? Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Cash Fixed assets Total Equity Total

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