Brown Fashions Inc.'s December 31, 2017 balance sheet showed total common equity of $4,050,000 and 195,000...

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Brown Fashions Inc.'s December 31, 2017 balance sheet showedtotal common equity of $4,050,000 and 195,000 shares of stockoutstanding. During 2018, the firm had $450,000 of net income, andit paid out $100,000 as dividends. What was the book value pershare at 12/31/18, assuming no common stock was either issued orretired during 2018? (Round your final answer to two decimalplaces.)
a. $21.66
b. $23.24
c. $19.86
d. $26.17
e. $22.56

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Solution As per the information given in the question we have As on December 31 2017 Total common equity 4050000 Number of shares of stock outstanding 195000 During See Answer

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Brown Fashions Inc.'s December 31, 2017 balance sheet showedtotal common equity of $4,050,000 and 195,000 shares of stockoutstanding. During 2018, the firm had $450,000 of net income, andit paid out $100,000 as dividends. What was the book value pershare at 12/31/18, assuming no common stock was either issued orretired during 2018? (Round your final answer to two decimalplaces.)a. $21.66b. $23.24c. $19.86d. $26.17e. $22.56