Question: 2. [14 Points] The balance sheet for Sinking Ship Corp. is shown here in market value terms. There are 15,000 shares of stock outstanding. Market

2. [14 Points] The balance sheet for Sinking Ship Corp. is

2. [14 Points] The balance sheet for Sinking Ship Corp. is shown here in market value terms. There are 15,000 shares of stock outstanding. Market Value Balance Sheet Cash Equity $448,000 Fixed assets $63,000 385,000 $448,000 Total $448,000 The company has declared a dividend of $1.20 per share. The stock goes ex dividend tomorrow. (1) Ignoring any tax effects, what is the stock selling for today? What will it sell for tomorrow? (2) What will the balance sheet look like after the dividends are paid? (3) Suppose the company has announced it is going to repurchase $152,000 worth of stock. How many shares will be outstanding after the repurchase? What will the price per share be after the repurchase

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