FIN 305 Lecture 34: FIN305 Class 34
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Below is the common equity section (in millions) of Timeless Technology's last two year-end balance sheets:
2013 | 2012 | |
Common stock | $2,000 | $1,000 |
Retained earnings | 2,000 | 2,340 |
Total common equity | $4,000 | $3,340 |
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The firm has never paid a dividend to its common stockholders. Which of the following statements is CORRECT?
a. | The company's net income in 2013 was higher than in 2012. | |
b. | The market price of the firm's stock doubled in 2013. | |
c. | The firm issued common stock in 2013. | |
d. | The firm had positive net income in both 2012 and 2013, but its net income in 2013 was lower than it was in 2012. | |
e. | The company has more equity than debt on its balance sheet. |