Brown Fashions Inc

question 100

Multiple Choice

Brown Fashions Inc.'s December 31, 2012 balance sheet showed total common equity of $4,050,000 and 200,000 shares of stock outstanding. During 2012, the firm had $450,000 of net income, and it paid out $100,000 as dividends. What was the book value per share at 12/31/12, assuming no common stock was either issued or retired during 2012?

• A) $20.90
• B) $22.00
• C) $23.10
• D) $24.26
• E) $25.47

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Definitions:

Time and a Half

A rate of pay that is 1.5 times the employee's normal wage, typically paid for overtime or holiday work.

Time and a Half

A pay rate that is 1.5 times the employee's standard hourly rate, typically used for overtime work.

OASDI

An abbreviation for Old-Age, Survivors, and Disability Insurance, a comprehensive federal benefits program that provides benefits to retirees, disabled individuals, and survivors of deceased workers.

Hospital Insurance

A type of insurance designed to cover medical and surgical expenses incurred by the insured within a hospital setting.