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Brown Fashions Inc.'s December 31, 2017 balance sheet showed total common equity of $4,050,000 and 195,000...

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Finance

Brown Fashions Inc.'s December 31, 2017 balance sheet showedtotal common equity of $4,050,000 and 195,000 shares of stockoutstanding. During 2018, the firm had $450,000 of net income, andit paid out $100,000 as dividends. What was the book value pershare at 12/31/18, assuming no common stock was either issued orretired during 2018? (Round your final answer to two decimalplaces.)

a. $21.66
b. $23.24
c. $19.86
d. $26.17
e. $22.56

Answer & Explanation Solved by verified expert
4.1 Ratings (469 Votes)
Solution As per the information given in the question we have As on December 31 2017 Total common equity 4050000 Number of shares of stock outstanding 195000 During    See Answer
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Transcribed Image Text

Brown Fashions Inc.'s December 31, 2017 balance sheet showedtotal common equity of $4,050,000 and 195,000 shares of stockoutstanding. During 2018, the firm had $450,000 of net income, andit paid out $100,000 as dividends. What was the book value pershare at 12/31/18, assuming no common stock was either issued orretired during 2018? (Round your final answer to two decimalplaces.)a. $21.66b. $23.24c. $19.86d. $26.17e. $22.56

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