The Millard Division's operating data for the past two years are provided below: Millard Division's margin in Year 2 was 120% of the margin in Year 1.The net operating income for Year 1 was:
Rick Link,an amateur archaeologist in Idaho,uncovered artifacts from a Native American NezPerce burial ground that was several hundred years old and belonged to the tribe.Ancestors of the present-day tribe had made the artifacts and buried them with their dead.The tribe asked a court to award to it custody of the property,which included burial pots,ornaments,and pottery.Link claimed that the property had been abandoned and that he could therefore claim title to the goods because he had taken possession of them.A court would most likely hold for Link because the property was abandoned.
Balsam Corporation had 1,500,000 shares outstanding at the beginning of the year, with a book value of $3,000,000. As well, its retained earnings at the start of the year was $700,000. On May 1, the company declared a $0.75 dividend per share. On July 1, it then issued a 15% stock dividend at a time when shares were trading at $4. Net income of $2 per share was reported at the end of the year. Determine the value of the company's shareholders' at the end of the year.
A) $4,925,000 B) $5,025,000 C) $5,925,000 D) $6,025,000 E) $6,925,000