Use the table for the question(s) below.
-Refer to the partial balance sheet above. If on December 31, 2005 Luther has 8 million shares outstanding trading at $15 per share, then what is Luther's market-to-book ratio?
Definitions:
Double Scoop
Typically refers to two servings of ice cream, often served in a cone or cup.
Profit
The financial benefit realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.
Organic
Organic refers to products or methods that rely on farming without the use of synthetic pesticides, fertilizers, genetically modified organisms (GMOs), or other artificial agents.
Monopolistic Competition
A market structure characterized by many firms selling products that are similar but not identical, allowing for product differentiation and some degree of market power for each firm.
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