Question: The balance sheet for Sinking Ship Corp. Is shown here in market value terms. There are 5,000 shares of stock outstanding. Market Value Balance Sheet

The balance sheet for Sinking Ship Corp. Is shown here in market value terms. There are 5,000 shares of stock outstanding. Market Value Balance Sheet 373,900 $43,900 Cash Equity $ Flxed 330,000 assets $373,900 $373,900 Total Total Instead of a dividend of $1.60 per share, the company has announced a share repurchase of $8,000 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.) Shares outstanding b. New stock price
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
