Foundations of Finance (9th Edition) (Pearson Series in Finance)
Foundations of Finance (9th Edition) (Pearson Series in Finance)
9th Edition
ISBN: 9780134083285
Author: Arthur J. Keown, John D. Martin, J. William Petty
Publisher: PEARSON
Question
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Chapter 13, Problem 13SP

a)

Summary Introduction

To determine: The earnings per share.

b)

Summary Introduction

To determine: The outstanding number of shares of common stock.

c)

Summary Introduction

To determine: The earnings per share after stock split.

d)

Summary Introduction

To determine: The total earnings for the shares and earnings on the post-split of shares.

e)

Summary Introduction

To determine: The explanation for it be better off financially as the holder of 100 shares of pre-split stock after the 3 for 1 split.

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Downie Foods recently completed a 4-for-1 stock split. Prior to the split, its stock sold for $70 per share. If the firm's total market value increased by 5% as a result of increased liquidity caused by the split, what was the stock price following the split?
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