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The market value balance sheet for Bobaflex Manufacturing is shown here. The company has declared a 30 percent stock dividend. The stock goes ex dividend
The market value balance sheet for Bobaflex Manufacturing is shown here. The company has declared a 30 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 Sheet Cash $95,000 154,000 Debt $ Fixed assets 790,000 Equity 731,000 Total 885,000 Total 885,000 $ a. There are 30,000 shares of stock outstanding. What is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What will the ex-dividend price be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Current share price Ex-dividend price b
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