Macmillan Corporation has provided the following financial data: Dividends on common stock during Year 2 totaled $7,200. The market price of common stock at the end of Year 2 was $3.69 per share.The company's working capital at the end of Year 2 is:
A) $732,000
B) $831,000
C) $289,000
D) $590,000

Question

Macmillan Corporation has provided the following financial data:  Dividends on common stock during Year 2 totaled $7,200. The market price of common stock at the end of Year 2 was $3.69 per share.The company's working capital at the end of Year 2 is:
A) $732,000 
B) $831,000 
C) $289,000 
D) $590,000

Quizplus · Accepted Answer

To calculate the company's working capital at the end of Year 2, we need to know the current assets and current liabilities of the company. We do not have this information in the given financial data.

Dividends on common stock and market price per share do not provide any insight into the working capital of the company.

Therefore, none of the given options seems to be correct.

Macmillan Corporation Has Provided the Following Financial Data: Dividends