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Brown Bags, LLC. has total assets of $380,000 of which $120,000 are current assets.
Brown Bags, LLC. has total assets of $380,000 of which $120,000 are current assets. Cash makes up 20 percent of the current assets and accounts receivable makes up another 15 percent of current assets. Brown Bag's gross plant and equipment has a book value of $215,000 and other long-term assets have a book value of $100,000. What is the amount of inventory on the balance sheet for Brown Bags, LLC.?
A. $24,000
B. $42,000
C. $50,000
D. $65,000
E. $78,000
Yellow Boxes, Inc. began the year 2014 with $2,575,000 in retained earnings. The firm earned net income of $800,000 in 2014 and paid $100,000 to its preferred stockholders. In addition, it paid $350,000 in dividends to its common stockholders. What is the year-end 2014 balance in retained earnings for Yellow Boxes, Inc.?
A. $3,225,000
B. $2,925,000 C. $2,800,000
D. $2,575,000
E. less than $2,575,000
According to a firm's balance sheet, total assets equal $24.6 million and total liabilities equal $16.9 million at the end of 2017. The firm earned net income of $2.6 million in 2018 and distributed $1.4 million in dividends. If the firm does not have any preferred stock outstanding and 280,000 shares of common stock outstanding, what is the book value per share at the end of 2017?
A. $23.21
B. $27.50
C. $30.00
D. $31.79
E. more than 31.79
