The balance sheet for Quinn Corporation is shown here in market value terms. There are 12,000 shares of stock outstanding.CashFixed assetsTotalWillMarket Value Balance Sheet$ 49,300355,000 Equity$ 404,300 TotalIn lieu of a dividend of $1.45, the company has announced it is going to repurchase $17,400 worth of stock.What effect will this transaction have on the equity of the firm?Note: Do not round intermediate calculations. Input the amount as positive value.New shares outstanding$ 404,300$ 404,300shareholders' equity byHow many shares will be outstanding after the repurchase?Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.Share priceWhat will the price per share be after the repurchase?Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.

The stock repurchased by the company from the market is called the treasury stock. It is deducted…

The balance sheet for Quinn Corporation is shown here in market value terms. There are 12,000 shares of stock outstanding. Cash Fixed assets Total Market Value Balance Sheet $ 49,300 355,000 Equity Total $ 404,300 $ 404,300 $ 404,300

The balance sheet for Quinn Corporation is shown here in market value terms. There are 12,000 shares of stock outstanding. Cash Fixed assets Total Market Value Balance Sheet $ 49,300 355,000 Equity Total $ 404,300 $ 404,300 $ 404,300

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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Question

The balance sheet for Quinn Corporation is shown here in market value terms. There are 12,000 shares of stock outstanding.
Cash
Fixed assets
Total
Will
Market Value Balance Sheet
$ 49,300
355,000 Equity
$ 404,300 Total
In lieu of a dividend of $1.45, the company has announced it is going to repurchase $17,400 worth of stock.
What effect will this transaction have on the equity of the firm?
Note: Do not round intermediate calculations. Input the amount as positive value.
New shares outstanding
$ 404,300
$ 404,300
shareholders' equity by
How many shares will be outstanding after the repurchase?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
Share price
What will the price per share be after the repurchase?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.

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