J. Clark Inc. (JCI), a manufacturer and distributer of sports equipment, has gro

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J. Clark Inc. (JCI), a manufacturer and distributer of sports equipment, has grown until it has become a stable, mature company. Now JCI is planning its first distribution to shareholders. Shown below are the most recent year's financial statements and projections for the next year, 2011 (JCI has a fiscal year ending on June 30). JCI plans to liquidate $500 million of its short-term securities and distribute them on July 1, 2011, the first day of the next fiscal year, but has not yet decided whether to distribute with dividends or with stock repurchases

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