What will be number of shares outstanding after the split

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Reference no: EM13824005

Dividends Per Share

Michelangelo Inc., a software development firm, has stock outstanding as follows: 30,000 shares of cumulative 4%, preferred stock of $25 par, and 38,000 shares of $75 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $11,400; second year, $15,900; third year, $91,200; fourth year, $126,900.

Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0".

1st Year 2nd Year 3rd Year 4th Year

Preferred stock (dividend per share) $ $ $ $

Common stock (dividend per share) $ $ $ $

Effect of Stock Split

Gino's Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Midwest. Gino's Restaurant Corporation, which had 51,000 shares of common stock outstanding, declared a 3-for-1 stock split.

a. What will be the number of shares outstanding after the split?

b. If the common stock had a market price of $180 per share before the stock split, what would be an approximate market price per share after the split?

$ per share

Reference no: EM13824005

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