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At the end of 20B, Storage Company reported outstanding common stock (par $20) of $300,000. Total liabilities were $440,000 and total assets were $860,000. The company had no preferred stock. The book value per share of common stock was
a. $29.00.
b. $13.90.
c. $28.00.
d. $14.00.
e. None of the above is correct.
Net Income for Levin-Tom partnership for 2012 was 125000. Levin and Tom have agreed to distribute partership net income according to the following plan.
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Prepare a worksheet to determine the division of net income if the net income was (a)$200,000 / (b)$300,000
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