balance sheet for Quinn Corporation is shown here in market value terms. There are 12,000 shares of stock outstanding. Market Value Balance Sheet Cash $ 49,300 Equity $ 404,300 Fixed assets 355,000 Total $ 404,300 Total $ 404,300 The company has announced a share repurchase of $17,400 worth of stock. How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) What will the price per share be after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
balance sheet for Quinn Corporation is shown here in market value terms. There are 12,000 shares of stock outstanding. Market Value Balance Sheet Cash $ 49,300 Equity $ 404,300 Fixed assets 355,000 Total $ 404,300 Total $ 404,300 The company has announced a share repurchase of $17,400 worth of stock. How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) What will the price per share be after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
|
The |
| Market Value Balance Sheet | |||
| Cash | $ 49,300 | Equity | $ 404,300 |
| Fixed assets | 355,000 | ||
| Total | $ 404,300 | Total | $ 404,300 |
|
The company has announced a share repurchase of $17,400 worth of stock. |
|
How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
| What will the price per share be after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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