Answer:
$30.57
Explanation:
Total assets = Cash + Fixed assets
Total assets = $42,000 + $319,000
Total assets = $361,000.
Total liabilities = Total assets - Equity
Total liabilities = $361,000 total assets - $237,000 equity
Total liabilities = $124,000
Total dividend payments in cash = 7500 shares * $1.03 dividend = $7,725. So, cash will now be reduced by $34,275 ($42,000 - $7725)
So, total assets will be = $361,000 - $7725 = $353,275.
So, total equity will be = $353,275 - $124,000 = $229,275
The price tomorrow morning = New equity / Total shares
The price tomorrow morning = $229,275 / 7500 shares
The price tomorrow morning = $30.57
