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Question - On January 1, Biofuel Corporation had the following capital structure:
Common stock ($0.10 par value)
$60,000
Additional paid-in capital
1,900,00
Retained earnings
800,000
Treasury stock
0
Cash flows from financing activities
19,000
Required: Complete the table below for each of the three following independent cases:
Case 1: The board of directors declared a cash dividend of $0.02 per share.
Case 2: The board of directors declared and issued a 100 percent stock dividend when the stock was selling at $10 per share.
Case 3: The board of directors announced a 2-for-1 stock split. The market price prior to the split was $10 per share.
Items
Before any Dividend
After Cash Dividend
After Stock Dividend
After Stock Split
Common stock account
$120,000
Par per share
$0.10
$0.05
Shares outstanding
600,000
1,200,000
$1,900,000
$800,000
$788,000
$740,000
Total stockholder's equity
$2,760,000
$2,748,000
$19,000
start with the original assumptions. notice that managed care plan 1 receives a much lower price in return for sending
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