1. The balanced sheet for Levy Corp. is shown here in market value terms. There are 8,000 shares of stock outstanding.

Market Value Balance Sheet Cash $ 30,000 Equity $380,000

Fixed assets 350,000 .

Total $380.000 Total $380.000

The company has declared a dividend of $1.60 per share. The stock goes ex dividend tomorrow. Ignoring any tax effect, what is the stock selling for today? What will it sell for tomorrow? What will the balanced sheet look like after the dividends are paid?