ByteMe operates computer stores and has a stock value of $11.00. The following items are derived from the financial statements:

Current assets = 950, current liabilities = 740, long term debt = 30500

100,000 shares outstanding, 200,000 treasury shares

Inventory = 400, A/R = 400 (no other current assets except cash)

Calculate the market capitalization of the firm.

a. 3,300,000

b. 2,200,000

c. 2,000,000

d. none of these answers are correct

e. 1,100,000