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Thomas Ltd. buys 2,000 of the 100,000 shares of Micron Inc., paying $36.50 per share. Suppose Micron distributes a 15 percent stock dividend. Later
Thomas Ltd. buys 2,000 of the 100,000 shares of Micron Inc., paying $36.50 per share. Suppose Micron distributes a 15 percent stock dividend. Later the same year, Thomas Lid. sells the Micron shares for $31.50 per share. Disregard commissions on the purchase and sale. 1. Compute Thomas Ltd.'s new cost per share after receiving the stock dividend. 2. Compute Thomas Ltd.'s gain or loss on the sale of this long-term investment C 1. Compute Thomas Ltd.'s new cost per share after receiving the stock dividend. Start with calculating the cost of investment Cost of the investment Now, compute the new cost per share after receiving the stock dividend. (Enter new cost per share rounded to the nearest cont.) New number of shares held New cost per share: 2. Compute Thomas Ltd.'s gain or loss on the sale of this long-term investment. (Enter losses with parentheses or a minus sign. Round to the nearest whole dollar) on the sale of the long-term investment is
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