Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Brown Fashions Inc. December 31,2015 balance sheet showed total common equity of 4,050,000 and 224,000 shares of stock outstanding.During 2015 the firm had 450,000 of
Brown Fashions Inc. December 31,2015 balance sheet showed total common equity of 4,050,000 and 224,000 shares of stock outstanding.During 2015 the firm had 450,000 of net income and it paid out 100,000 as dividends. What was the book value per share at 12/31/15 assuming no common stock was either issued or retired during 2015?
a. $24.44
b.$17.01
c.$24.25
d.$20.73
e.$19.56
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started