What is the amount of Treetop shareholders equity

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Question - When Treetop Housing was first incorporated, it raised capital by issuing 100,000 shares at $10 per share. Over the course of its first five years of business, Treetop had retained earnings of $1.4 million. Unfortunately, the real estate market in that area is in a state of decline and the current value of Treetop's net assets is only $1.6 million. As a result of the poor prospects for this market, shares in Treetop are currently trading at $13.50 per share. What is the amount of Treetop's shareholders' equity?

Reference no: EM132948143

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