The market value balance sheet for Bobaflex Manufacturing is shown here. The com
ID: 2462795 • Letter: T
Question
The market value balance sheet for Bobaflex Manufacturing is shown here. The company has declared a 15 percent stock dividend. The stock goes ex dividend tomorrow (the chronology for a stock dividend is similar to that for a cash dividend.
Market Value Balance Sheet
Cash $83,000
Fixed assets $670,000
Total $753,000
Debt $142,000
Equity $611,000
Total $753,000
There are 18,000 shares of stock outstanding. Current stock price is $33.94.
What will the ex-divident price be? (Do not round intermediate calculations. Round your answer 2 decimal places. e.g., 31.16)
Ex-dividend price $_______________
Explanation / Answer
Details Amount No of shares 18,000.00 Market Price per share 33.95 Market Value 6,11,100.00 Revised No of share 20,700.00 Revised Market Price Per share(Ex dividend Price) 29.52