Question
The market value balance sheet for Bobaflex Manufacturing is shown here. The company has declared a 10 percent stock dividend. The stock goes ex dividend
The market value balance sheet for Bobaflex Manufacturing is shown here. The company has declared a 10 percent stock dividend. The stock goes ex dividend tomorrow (the chronology for a stock dividend is similar to that for a cash dividend).
Market Value Balance SheetCash$91,000Debt$150,000Fixed assets750,000Equity691,000Total$841,000Total$841,000
There are 26,000 shares of stock outstanding. What is the current share price?(Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
Current stock price$
What will the ex-dividend price be?(Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
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