The company with the common equity accounts shown here has declared a 5-for-one stock split when the market value of its stock is $31 per share. The firm’s 70-cent per share cash dividend on the new (postsplit) shares represents an increase of 25 percent over last year’s dividend on the presplit stock.
Common stock ($1 par value) $ 405,000
Capital surplus 850,000
Retained earnings 3,760,800
Total owner's equity $ 5,015,800
What is the new par value per share? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
New par value $ per share
What was last year's dividend per share? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
Dividend per share $