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Category > Business & Finance Posted 20 Jun 2017 My Price 11.00

The balance sheet for Pie Crust, Inc.

The balance sheet for Pie Crust, Inc., is shown here in market value terms. There are 25,000 shares of stock outstanding.
Market Value Balance Sheet
     
  Cash $156,000      
  Fixed assets 540,750     Equity $696,750  
       
      Total   $696,750         Total $696,750  
       
 

In lieu of a dividend of $1.30, the company has announced it is going to repurchase $32,500 worth of stock instead of paying a dividend.
Requirement 1:
What effect will this transaction have on the equity of the firm? (Do not round intermediate calculations.Input the amount as positive value.)
  Will (Click to select)increasereduce shareholdersAc€?c equity by $
Requirement 2:

How many shares will be outstanding after the repurchase? (Do not round intermediate calculations.Round your answer to the nearest whole number (e.g., 32).)
  New shares outstanding    
Requirement 3:

What will the price per share be after the repurchase? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
  Share price $

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Status NEW Posted 20 Jun 2017 08:06 AM My Price 11.00

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