The balance sheet for Quinn Corporation is shown here in market value terms. There are 8,000 shares of stock outstanding. Cash Fixed assets Total Market Value Balance Sheet $45,600 Equity 500,000 $ 545,600 Total $ 545,600 a. Shares outstanding b. New stock price $ 545,600 Instead of a dividend of $1.90 per share, the company has announced a share repurchase of $15,200 worth of stock. a. How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What will the price per share be after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
The balance sheet for Quinn Corporation is shown here in market value terms. There are 8,000 shares of stock outstanding. Cash Fixed assets Total Market Value Balance Sheet $45,600 Equity 500,000 $ 545,600 Total $ 545,600 a. Shares outstanding b. New stock price $ 545,600 Instead of a dividend of $1.90 per share, the company has announced a share repurchase of $15,200 worth of stock. a. How many shares will be outstanding after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What will the price per share be after the repurchase? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
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