Use the following information in the table below to answer the question: Blanc Blanc Financial Year ending 2018 2019 Market Price $34.33 $30.92 Total shares outstanding 5,000,000 5,000,000 Total shareholders' equity $63,000,000.00 $68,500,000.00 Net Income $7,461,807.07 $7,115,844.52 Based on the information given the price to book ratio for Blanc in 2019 is closest to: O A. 2.51 О В. 2.26 Ос. 2.45

Use the following information in the table below to answer the question: Blanc Blanc Financial Year ending 2018 2019 Market Price $34.33 $30.92 Total shares outstanding 5,000,000 5,000,000 Total shareholders' equity $63,000,000.00 $68,500,000.00 Net Income $7,461,807.07 $7,115,844.52 Based on the information given the price to book ratio for Blanc in 2019 is closest to: O A. 2.51 О В. 2.26 Ос. 2.45

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 6CE

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Treasury Stock, Cost Method Bush-Caine Company reported the following data on its December 31, 2018, balance sheet: The following transactions were reported by the company during 2019: 1. Reacquired 200 shares of its preferred stock at 57 per share. 2. Reacquired 500 shares of its common stock at 16 per share. 3. Sold 100 shares of preferred treasury stock at 58 per share. 4. Sold 200 shares of common treasury stock at 17 per share. 5. Sold 100 shares of common treasury stock at 9 per share. 6. Retired the shares of common stock remaining in the treasury. The company maintains separate treasury stock accounts and related additional paid-in capital accounts for each class of stock. Required: 1. Prepare the journal entries required to record the treasury stock transactions using the cost method. 2. Assuming the company earned a net income in 2019 of 30.000 and declared and paid dividends of 10,000, prepare the shareholders equity section of its balance sheet at December 31, 2019.
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