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Linda's Lights balance sheet info for the beginning of 2020: Owners' Equity 27 million Bank Loan 10 million, 4
Linda's Lights balance sheet info for the beginning of 2020:
Owners' Equity 27 million
Bank Loan 10 million, 4.5% interest rate
Fixed Assets 10 million
Inventory 23 million
Cash 4 million
Here are info for 2020:
Purchased 220 thousand lamps for $100 each, sold them for $125 each
Incurred additional operating costs of $2 million
Purchased 5 trucks for $100,000 each
Profits tax 15%
Dividend payout ratio 30%
Q: If the company has 1 million shares, what is price-per-share?
Expert Solution
Price per share = $28.81 per share
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