Multiple Choice
At year end, Tangshan China Company balance sheet showed total assets of $60 million, total liabilities (including preferred stock) of $45 million, and 1,000,000 shares of common stock outstanding. If Tangshan could sell its assets for $52.5 million, Tangshan's liquidation value per share of common stock is ________.
A) $15.00
B) $7.50
C) $52.50
D) $75.00
Correct Answer:
Verified
Correct Answer:
Verified
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