Question: The balance sheet for Chevelle Corp. is shown here in market value terms. There are 9,000 shares of stock outstanding. The company has declared a

The balance sheet for Chevelle Corp. is shown here in market value terms. There are 9,000 shares of stock outstanding.

The company has declared a dividend of $1.40 per share. The stock goes ex dividend tomorrow. Ignoring any tax effects, what is the stock selling for today? What will it sell for tomorrow? What will the balance sheet look like after the dividends are paid?

Market Value Balance Sheet Cash Fixed assets $ 43,700 Equity $353,700 310,000 Total $353,700 700 tal 353,700

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