The Balance Sheet for Apple Pie Corp The Company Has Declared a Dividend of $1

question 96

Multiple Choice

The balance sheet for Apple Pie Corp.is shown here in market value terms.There are 5,000 shares of stock outstanding. $$\begin{array}{l}\text { Market Value Balance Sheet }\\\begin{array} { l r l } \text { Cash } & \$ 23,000 & \text { Equity } \$ 207,000 \\\text { Fixed assets } & 184,000 & \\\text { Total } \quad \underline { \$ 207,000 } & \text { Total } \$ 207,000\end{array}\end{array}$$ The company has declared a dividend of $1.80 per share.The stock goes ex-dividend tomorrow.Ignore any tax effects.What will the price of the stock be tomorrow?

• A)$18.90
• B)$36.20
• C)$39.60
• D)$52.15
• E)$71.80

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Definitions:

Microbiologic Tests

Laboratory tests conducted to identify or quantify microorganisms, such as bacteria and viruses, in samples.

Hematologic Tests

Medical examinations of blood to diagnose diseases related to blood cells and clotting functions.

Optical Microscope

A microscope that uses light, concentrated through a condenser and focused through the object being examined, to project an image.

Condenser

A device used to condense a gaseous substance into a liquid or solid state, typically by cooling it.