The company with the common equity accounts shown here has, Ask an Expert

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The company with the common equity accounts shown here has decided on a two-for-one stock split. The firm’s 33-cent-per-share cash dividend on the new (postsplit) shares represents an increase of 15 percent over last year’s dividend on the presplit stock.

Common stock ($1 par value) $ 510,000

Capital surplus 1,559,000

Retained earnings 3,886,000

Total owners’ equity $ 5,955,000

A. What is the new par value of the stock?

B. What was last year’s dividend per share?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92095572

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