The market value statement of financial position for Vern\'s Variety is shown be

Question

The market value statement of financial position for Vern's Variety is shown below. There are 5,000 shares of stock outstanding.

Cash $44,300; Fixed assets 370,000; Equity $414,300.

Instead of a dividend of $2.00 per share, the company has announced a share repurchase of $10,000 worth of stock.
How many shares will be outstanding after the repurchase? (Do not round intermediate calculations)
What will the price per share be after the repurchase? (Do not round intermediate calculations and round your final answer to 2 decimal places; e.g., 32.16)

Explanation / Answer

VALUE OF COMMON STOCK OUTSTANDING(EQUIY) 414300

QUANTITY OF SHARESOUTSTANDING 5000

VALUE PERSHARE 8286

SO NUMBER OF SHARES will be outstanding after the repurchase =0 (COMPNAY WILL BECOME DELISTED )

(QUANITY WILL BE 828600)

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