The company with the common equity accounts shown here has decided on a two-for-one stock...
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Accounting
| The company with the common equity accounts shown here has decided on a two-for-one stock split. The firms 32-cent-per-share cash dividend on the new (postsplit) shares represents an increase of 20 percent over last years dividend on the presplit stock. |
| Common stock ($1 par value) | $ 520,000 |
| Capital surplus | 1,560,000 |
| Retained earnings | 3,888,000 |
| Total owners equity | $ 5,968,000 |
| a. | What is the new par value of the stock? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) | |
| b. | What was last years dividend per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) | |
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