Brown Fashions Inc.'s December 31, 2015 balance sheet showed total common equity of $4,050,000 and...
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Accounting
Brown Fashions Inc.'s December 31, 2015 balance sheet showed total common equity of $4,050,000 and 225,000 shares of stock outstanding. During 2015, the firm had $450,000 of net income, and it paid out $100,000 as dividends. What was the book value per share at 12/31/15, assuming no common stock was either issued or retired during 2015? (Round your final answer to two decimal places.)
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