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c. What will the balance sheet look like after the dividends are paid? (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Cash Fixed assets Equity Total Total

c. What will the balance sheet look like after the dividends are paid? (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Cash Fixed assets Equity Total Total

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The balance sheet for Tempest, Inc., is shown here in market value terms. There are 29,000 shares of stock outstanding. Market Value Balance Sheet Cash $130,000 529,750 Equity Fixed assets $659,750 Total $659,750 Total $659,750 The company has declared a dividend of $.70 per share. The stock goes ex dividend tomorrow. Ignore any tax effects. a. What is the stock selling for today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What will it sell for tomorrow? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Stock price today b. Stock price tomorrow
Transcribed Image Text:The balance sheet for Tempest, Inc., is shown here in market value terms. There are 29,000 shares of stock outstanding. Market Value Balance Sheet Cash $130,000 529,750 Equity Fixed assets $659,750 Total $659,750 Total $659,750 The company has declared a dividend of $.70 per share. The stock goes ex dividend tomorrow. Ignore any tax effects. a. What is the stock selling for today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What will it sell for tomorrow? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Stock price today b. Stock price tomorrow
c. What will the balance sheet look like after the dividends are paid? (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Cash Fixed assets Equity Total Total
Transcribed Image Text:c. What will the balance sheet look like after the dividends are paid? (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) Cash Fixed assets Equity Total Total
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