Problem 17-5 Regular Dividends [LO1]

The balance sheet for Chevelle Corp. is shown here in market value terms. There are 6,000 shares of stock outstanding.

Market Value Balance Sheet
Cash	$	45,500		Equity	$	535,500
Fixed assets		490,000
Total	$	535,500		Total	$	535,500

The company has declared a dividend of $1.80 per share. The stock goes ex dividend tomorrow.

Ignoring any tax effects, what is the stock selling for today? (Round your answer to 2 decimal places. (e.g., 32.16))

Stock selling price

$ per share

Ignoring any tax effects, what will it sell for tomorrow? (Round your answer to 2 decimal places. (e.g., 32.16))

Stock selling price

$ per share

Ignoring any tax effects, what will the balance sheet look like after the dividends are paid?

Balance Sheet
Cash	$			Equity	$
Fixed assets
Total	$			Total	$