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  3. a firm's balance sheets as of december 31,2021, an

A firm's balance sheets as of December 31,2021, and 2022 show the following items (in...

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Accounting

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A firm's balance sheets as of December 31,2021, and 2022 show the following items (in millions): 2021: Cash =$8.71; Account Receivable =$3.54; Inventory =$3.93; Gross Fixed Assets =$8.81; Accumulated Depreciation =$6.81; Retained Earnings =$1.54; Capital Surplus =$1.7; Common Stock ($0.50 par ) =$1.82; Notes Payable =$4.39; Long term debt =$6.65; Accounts Payable = $2.08. 2022: Cash =$10.71; Account Receivable =$2.54; Inventory =$4.43; Gross Fixed Assets =$10.51; Accumulated Depreciation =$7.51; Retained Earnings =$2.54; Capital Surplus =$4.2; Common Stock ($0.50 par) - $3.62; Notes Payable =$4.69; Long, term debt =$3.67; Accounts Payable = $1.96. Calculate the average price at which new shares were sold. None of these options are correct 0.84 0.50 0.59 1.19

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