### Market Value Balance Sheet Analysis**Balance Sheet Overview for Quinn Corporation:**- **Cash:** $49,300- **Fixed Assets:** $355,000 - **Total Assets:** $404,300 - **Equity:** $404,300This balance sheet represents Quinn Corporation in market value terms with 12,000 shares of stock outstanding.---**Stock Repurchase Plan:**The company plans to repurchase $17,400 worth of stock instead of issuing a dividend of $1.45.**Impact on Equity:**- **Question:** What effect will this transaction have on the equity of the firm? - **Instruction:** Input the change in shareholders' equity as a positive value. Do not round intermediate calculations. **Answer:** [Input field for equity change]---**Shares Outstanding Post-Repurchase:**- **Question:** How many shares will be outstanding after the repurchase? - **Instruction:** Input the new number of shares outstanding, rounded to two decimal places. Do not round intermediate calculations. **Answer:** [Input field for new shares outstanding]---**Price Per Share Post-Repurchase:**- **Question:** What will the price per share be after the repurchase? - **Instruction:** Calculate and round the price to two decimal places, ensuring intermediate calculations are not rounded. **Answer:** [Input field for new share price]---This exercise helps in understanding the impact of share repurchases on a firm’s balance sheet, equity, and stock price.

The stock repurchased by the company from the market is called the treasury stock. It is deducted…

Answered: The balance sheet for Quinn Corporation…

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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Financial statement data for the current year for Hanz Corp. are as follows: Line Item Description Amount Net income $5,700,000 Preferred dividends $70,000 Average number of common shares outstanding 200,000 The earnings per share for the current year are? a.$28.15 b.$28.50 c.$28.85 d.$0.35
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The balance sheet for Quinn Corporation is shown here in market value terms. There are 12,000 shares of stock outstanding. Cash Fixed assets Total Market Value Balance Sheet $ 49,300 355,000 Equity Total $ 404,300 $ 404,300 $ 404,300