Brown Fashions Inc

question 15

Multiple Choice

Brown Fashions Inc.'s December 31,2017 balance sheet showed total common equity of $4,050,000 and 195,000 shares of stock outstanding.During 2018,the firm had $450,000 of net income,and it paid out $100,000 as dividends.What was the book value per share at 12/31/18,assuming no common stock was either issued or retired during 2018? (Round your final answer to two decimal places. )

• A) $21.66
• B) $19.86
• C) $23.24
• D) $26.17
• E) $22.56

---

Definitions:

Liability

The condition of having legal accountability, especially regarding debts or legal duties.

Control

The power to direct the management and policies of a company or organization, often through ownership of a majority of shares.

Expansion

Expansion refers to the process of growing or enlarging the scale, scope, or reach of something, such as a business, territory, or concept.