Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The market value balance sheet for Sci-Fi Crimes Manufacturing is shown here. Sci-Fi Crimes has declared a 10 percent stock dividend. The stock goes ex

image text in transcribed

The market value balance sheet for Sci-Fi Crimes Manufacturing is shown here. Sci-Fi Crimes 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 Sheet $ 86,000 Debt $145,000 641,000 Fixed assets 700,000 Equity Total $ 786,000 Total 786,000 There are 21,000 shares of stock outstanding. What is the current share price? (Round your answer to 2 decimal places. (e.g., 32.16) New stock price er share What will the ex-dividend price be? (Round your answer to 2 decimal places. (e.g., 32.16)) Ex-dividend 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

Financial Management Principles And Practice

Authors: Timothy J. Gallagher, Joseph D. Andrew

3rd Edition

0131768824, 978-0131768826

More Books

Students also viewed these Finance questions

Question

What is your role within these groups?

Answered: 1 week ago