The balance sheet for Ferguson Corp. is shown here in market value terms. There are 5,000 shares of stock outstanding.
Market Value Balance Sheet Cash
$ 44,500 Equity $ 434,500
Fixed assets 390,000
Total $ 434,500 Total $ 434,500
The company has declared a dividend of $1.30 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 $__________