The Smell Fresh Kitty Litter Company has assets of $9 million, liabilities of $3 million and 1.1 million shares outstanding. Assuming creditors are paid in full prior to stockholders receiving any money, what is the maximum amount the stockholders would receive in a bankruptcy settlement? What is the amount per share they would receive?

a) The maximum amount the stockholders would receive in a bankruptcy settlement is? (Round to the nearest cent.)

b)The amount stockholders would receive per share is? (Round to the nearest cent.)