The balance sheet for Tempest, Inc., is shown here in market value terms. There are...
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Accounting
| The balance sheet for Tempest, Inc., is shown here in market value terms. There are 30,000 shares of stock outstanding. |
| Market Value Balance Sheet | |||||||
| Cash | $ | 136,000 | |||||
| Fixed assets | 534,800 | Equity | $ | 670,800 | |||
| Total | $ | 670,800 | Total | $ | 670,800 | ||
| The company has declared a dividend of $1.20 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.) |
| 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.) |
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