Cavalier Copper shows on its most recent balance sheet $840 million in total liabilities, $10 billion in treasury stock (recorded at par of $1/share) and $520 million in common stock outstanding (also recorded at par of $1/share). The company had negative retained earnings of $40 million at the beginning of its fiscal year, and it made a net profit of $60 million during the year. The company's stock sells for $4/share on the date of the balance sheet. The company's total assets are.
a. $1.38 billion
b. $10.84 billion
c. $1.46 billion
d. $2.94 billion
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Home » Business » Cavalier Copper shows on its most recent balance sheet $840 million in total liabilities, $10 billion in treasury stock (recorded at par of $1/share) and $520 million in common stock outstanding (also recorded at par of $1/share).