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Assume a company provided the following balance sheet: Current assets: Current liabilities: Cash $ 60,000 Accounts payable $ 90,000 Accounts receivable 50,000 Accrued liabilities 40,000 Total current liabilities Bonds payable Inventory 150,000 130,000 Total current assets 260,000 110,000 Property, plant & equipment, net 380,000 Total liabilities 240,000 Stockholders' equity: Common stock, $17 par Retained earnings 170,000 230,000 Total stockholders' equity 400,000 Total assets $640,000 Total liabilities and stockholders’ equity $640,000 The book value per share is closest to:

Assume a company provided the following balance sheet: Current assets: Current liabilities: Cash $ 60,000 Accounts payable $ 90,000 Accounts receivable 50,000 Accrued liabilities 40,000 Total current liabilities Bonds payable Inventory 150,000 130,000 Total current assets 260,000 110,000 Property, plant & equipment, net 380,000 Total liabilities 240,000 Stockholders' equity: Common stock, $17 par Retained earnings 170,000 230,000 Total stockholders' equity 400,000 Total assets $640,000 Total liabilities and stockholders’ equity $640,000 The book value per share is closest to:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Assume a company provided the following balance sheet: Current assets: Current liabilities: Cash $ 60,000 Accounts payable $ 90,000 Accounts receivable 50,000 Accrued liabilities 40,000 Inventory 150,000 Total current liabilities 130,000 Total current assets 260,000 Bonds payable 110,000 Property, plant & equipment, net 380,000 Total liabilities 240,000 Stockholders' equity: Common stock, $17 par Retained earnings 170,000 230,000 Total stockholders' equity 400,000 Total assets $640,000 Total liabilities and stockholders’ equity $640,000 The book value per share is closest to:
Transcribed Image Text:Assume a company provided the following balance sheet: Current assets: Current liabilities: Cash $ 60,000 Accounts payable $ 90,000 Accounts receivable 50,000 Accrued liabilities 40,000 Inventory 150,000 Total current liabilities 130,000 Total current assets 260,000 Bonds payable 110,000 Property, plant & equipment, net 380,000 Total liabilities 240,000 Stockholders' equity: Common stock, $17 par Retained earnings 170,000 230,000 Total stockholders' equity 400,000 Total assets $640,000 Total liabilities and stockholders’ equity $640,000 The book value per share is closest to:
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