Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN: 9780357033609
Author: Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher: Cengage Learning
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Please don't give solution in image format and please explain proper steps by steps and create tables in answers.......

The balance sheet for Quinn Corporation is shown here in market value terms. There are
9,000 shares of stock outstanding.
Cash
Market Value Balance Sheet
$44,600
Fixed assets 400,000
Equity $444,600
Total
$444,600
Total $444,600
The company has declared a dividend of $1.50 per share. The stock goes ex dividend
tomorrow.
Ignoring any tax effects, what is the stock selling for today? (Do not round intermediate
calculations and round your answer to 2 decimal places, e.g., 32.16.)
Ignoring any tax effects, what will it sell for tomorrow? (Do not round intermediate
calculations and round your answer to 2 decimal places, e.g., 32.16.)
Current stock price
New stock price
Ignoring any tax effects, 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)
Market Value Balance Sheet
Cash
Fixed assets
Total
Equity
Total
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Transcribed Image Text:The balance sheet for Quinn Corporation is shown here in market value terms. There are 9,000 shares of stock outstanding. Cash Market Value Balance Sheet $44,600 Fixed assets 400,000 Equity $444,600 Total $444,600 Total $444,600 The company has declared a dividend of $1.50 per share. The stock goes ex dividend tomorrow. Ignoring any tax effects, what is the stock selling for today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Ignoring any tax effects, what will it sell for tomorrow? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Current stock price New stock price Ignoring any tax effects, 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) Market Value Balance Sheet Cash Fixed assets Total Equity Total
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