Shares of stock outstanding and net income

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A firm has a market value equal to its book value. Currently, the firm has excess cash of $700 and other assets of $6,300. Equity is worth $7,000. The firm has 500 shares of stock outstanding and net income of $810. What will the new earnings per share be if the firm uses 25 percent of its excess cash to complete a stock repurchase?

Reference no: EM131311644

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Shares of stock outstanding and net income : A firm has a market value equal to its book value. Currently, the firm has excess cash of $700 and other assets of $6,300. Equity is worth $7,000. The firm has 500 shares of stock outstanding and net income of $810. What will the new earnings per sha..

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