Linzey Corporation Has Provided the Following Data The Company's Net Income in Year 2 Was $33,000

question 88

Multiple Choice

Linzey Corporation has provided the following data: $\begin{array}{ll}&\text { Year 2 } & \text { Year 1 } \\\text {Common stock, \( \$ 2 \) par value }&\$ 120,000 & \$ 120,000 \\\text {Retained earnings }&\$ 747,000 & \$ 720,000 \\\text {Total stockholders' equity }&\$ 927,000 & \$ 900,000\end{array}$ The company's net income in Year 2 was $33,000. The company's book value per share at the end of Year 2 is closest to:

• A)$22.45 per share
• B)$12.45 per share
• C)$0.55 per share
• D)$15.45 per share

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Definitions:

Vasopressin

A hormone released by the pituitary gland that regulates the body's retention of water and constricts blood vessels.

Antidiuretic Hormone

A hormone released by the pituitary gland that signals the kidneys to increase water reabsorption in the blood, thereby controlling the water balance in the body.

Potassium Secretion

The process by which cells actively transport potassium ions out of the cell or into the extracellular fluid or lumen of an organ.

Infundibulum

A funnel-shaped structure, often referring to parts of the brain (pituitary stalk) or reproductive system (oviduct entrance) in humans.