The company with the common equity accounts shown here has declared a 4-for-1 stock split. The firm's 75-cent per-share cash dividend on the new (postsplit) shares represents an increase of 10 percent over last year's dividend on the presplit stock. Common stock ($1 par value) Capital surplus Retained earnings Total owners' equity $ 225,000 535,000 2,968,500 $3,728,500 a. What is the new par value per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What was last year's dividend per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. New par value b. Dividend per share
The company with the common equity accounts shown here has declared a 4-for-1 stock split. The firm's 75-cent per-share cash dividend on the new (postsplit) shares represents an increase of 10 percent over last year's dividend on the presplit stock. Common stock ($1 par value) Capital surplus Retained earnings Total owners' equity $ 225,000 535,000 2,968,500 $3,728,500 a. What is the new par value per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What was last year's dividend per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. New par value b. Dividend per share
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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