The balance sheet for Ferguson Corp. is shown here in market value terms. There are 10,000 shares of stock outstanding.
Market Value Balance Sheet
Cash $ 45,400 Equity $ 525,400
Fixed assets 480,000
Total $ 525,400 Total $ 525,400
The company has declared a dividend of $1.70 per share. The stock goes ex dividend tomorrow. Ignoring any tax effects, what is the stock selling for today? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
Stock price $ per share
Ignoring any tax effects, what will it sell for tomorrow? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
Stock price $ per share
Ignoring any tax effects, what will the balance sheet look like after the dividends are paid? (Do not round intermediate calculations.)
Balance Sheet
Cash $ Equity $
Fixed assets
Total $ Total $