Lemmon Inc

question 51

Multiple Choice

Lemmon Inc. lists fixed assets of $100 on its balance sheet. The firm's fixed assets have recently been appraised at $140. The firm's balance sheet also lists current assets at $15. Current assets were appraised at $16.5. Current liabilities book and market values stand at $12 and the firm's long-term debt is $40. Calculate the market value of the firm's stockholders' equity.

• A) $156.5
• B) $112.50
• C) $104.50
• D) $144.50

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Definitions:

Third Quartile

The value below which 75% of the data in a data set lie, representing the upper quartile of a distribution.

Mean

The average of a set of numbers, calculated by adding them up and dividing by the count of numbers.

Mean Household Income

The average amount of money earned by households in a particular demographic or area.

Households in Michigan

The units of living quarters where the occupants live together, located within the geographical limits of Michigan.