Answered step by step
Verified Expert Solution
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
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 | ||||||
Cash | $ | 96,000 | Debt | $ | 155,000 | |
Fixed assets | 800,000 | Equity | 741,000 | |||
Total | $ | 896,000 | Total | $ | 896,000 | |
There are 31,000 shares of stock outstanding. What is the current share price? (Round your answer to 2 decimal places. (e.g., 32.16)) |
New stock price | $ per 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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started