Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The balance sheet for Throwing Copper, Inc., is shown here in market value terms. There are 27,000 shares of stock outstanding. Market Value Balance Sheet

The balance sheet for Throwing Copper, Inc., is shown here in market value terms. There are 27,000 shares of stock outstanding. Market Value Balance Sheet Cash $ 110,000 Fixed assets 519,100 Equity $ 629,100 Total $ 629,100 Total $ 629,100 The compay has announced it is going to repurchase $24,300 worth of stock instead of paying a dividend of $.90. What effect will this transaction have on the equity of the firm? (Input the answer as positive value. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Will shareholders equity by $ How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) New shares outstanding What will the price per share be after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Share price $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance

Authors: Jack Kapoor

6th Edition

0072350849, 9780072350845

More Books

Students also viewed these Finance questions

Question

Identify the job expectancy rights of employees.

Answered: 1 week ago