The Market Value Balance Sheet for Cherry Pie Corp

question 47

Multiple Choice

The market value balance sheet for Cherry Pie Corp. reflects cash of $31,020, fixed assets of $539,750, and equity of $286,800. There are 6,000 shares of stock outstanding with a par value of $1 per share. The company has announced that it is going to repurchase $20,000 of stock. What will the price of the stock be after this repurchase?

• A) $47.80
• B) $46.60
• C) $46.20
• D) $47.60
• E) $46.80

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Definitions:

Bounce Test

A quick diagnostic procedure used to check the suspension and shocks of a vehicle, where pressure is applied to the body and released to observe how the vehicle rebounds.

Camber

The angle of the wheels relative to the vertical direction of the car, affecting tire contact with the road and wear patterns.

Straight Tracking

The ability of a vehicle to maintain a straight path without constant steering corrections by the driver.

Electronic Stethoscope

An electronic listening tool used to isolate the source of problematic noises.