Question brown fashions incs december 31 2014 balance sheet, Ask an Expert

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Question: Brown Fashions Inc.'s December 31, 2014 balance sheet showed total common equity of $4, 050,000 and 290,000 shares of stock outstanding. During 2015, the firm had $450,000 of net income, and it paid out $100,000 as dividends. What was the book value per share at 12/31/15, assuming no common stock was either issued or retired during 2015? (Round your final answer to two decimal places.)

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