Financial Statements for Larned Company Appear Below:

Total Dividends During Year 2 Were

question 201

Multiple Choice

Financial statements for Larned Company appear below:



Shareholders' Equity:
$\begin{array}{|l|r|}\hline & \begin{array}{r}\text { Larned Company } \\\text { Income Statement }\\\text { For the Year Ended December 31, Year 2 }\\\text { (dollars in thousands) }\end{array} \\\hline \text { Sales (All on Account) } & \$ 2930 \\\hline \text { Costs of Goods Sold } & \$ 2050 \\\hline \text { Gross Margin } & \$ 880 \\\hline \text { Operating Expenses } & \$ 350 \\\hline \text { Net Operating Income } & \$ 530 \\\hline \text { Interest Expense } & \$ 40 \\\hline \text { Net Income before Taxes } & \$ 490 \\\hline \text { Income Taxes }(30 \%) & \$ 147 \\\hline \text { Net Income } & \$ 343 \\\hline\end{array}$
Total dividends during Year 2 were $\$ 263,000$ , of which $\$ 12,000$ were for preferred shares. The market price of a common share on December 31, Year 2 was $\$ 160$ .
-Larned Company's book value per share at the end of Year 2 was closest to which of the following?

• A) $10.00.
• B) $16.11.
• C) $63.89.
• D) $70.56.

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Definitions:

Fibers

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The region of the brain that processes auditory information, allowing for the perception of sounds.

Temporal Lobes

Lobes at the sides of the brain’s cerebral cortex; they contain areas involved in hearing, memory, perception, emotion, and (in the left lobe, typically) language comprehension.

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A region of the brain responsible for processing sensory information from various parts of the body, including touch, temperature, and pain.