The December 31,2016,the Balance Sheet of TXY Reflected the Following

question 139

Multiple Choice

The December 31,2016,the balance sheet of TXY reflected the following: Assume the company sold all of the assets at December 31,2016,at market value for cash; paid off the liabilities and distributed all of the remaining cash to the shareholders.The amount of cash per share that each common shareholder would receive would be:

• A) $4.47
• B) $5.93
• C) $6.07
• D) $8.27

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Definitions:

Profitability

A measure of how much profit a company generates compared to its revenues.

Debt

An amount of money borrowed by one party from another, under the condition that it is to be paid back at a later date, often with interest.

Liquidity

The ease with which an asset can be converted into cash without significant loss in value.