(Answered) Question - regular dividends the balance sheet for levy

Accounting

Question - Regular Dividends

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

MARKET VALUE BALANCE SHEET
Cash	$19,000	Equity	$182,000
Fixed assets	163,000
Total	$182,000	Total	$182,000

The company has declared a dividend of $1.20 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?

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