At Year End, Tangshan China Company Balance Sheet Showed Total

question 51

Multiple Choice

At year end, Tangshan China Company balance sheet showed total assets of $60 million, total liabilities (including preferred stock) of $45 million, and 1,000,000 shares of common stock outstanding. If Tangshan could sell its assets for $52.5 million, Tangshan's liquidation value per share of common stock is ________.

• A) $15
• B) $7.50
• C) $52.50
• D) $75

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