Question Q. 1 We Do Bankruptcies is a law firm that specializes in providing advice to firms in financial distress. It prospers in recessions when other firms are struggling. Consequently, its beta is negative, −0.2. a. Suppose you invested 70% of your wealth in the market portfolio and the remainder of your wealth in the […]
Question Q.1 In 2015, Caterpillar Inc. had about 652 million shares outstanding. Their book value was $31.3 per share, and the market price was $73.50 per share. The company’s balance sheet shows that the company had $21.20 billion of long-term debt, which was currently selling near par value. a. What was Caterpillar’s book debt-to-value ratio? (Do not […]
Question 1. The shareholders of the Pickwick Paper Company need to elect ten directors. There are 300,000 shares outstanding. a. What is the minimum number of shares you need to own to ensure that you can elect at least one director if the company has majority voting? b. What is the minimum number of shares you need to own […]
Question 1. The authorized share capital of the Alfred Cake Company is 110,000 shares. The equity is currently shown in the company’s books as follows: Common stock ($2 par value) $73,000 Additional paid-in capital 23,000 Retained earnings 43,000 Common equity $139,000 Treasury stock (2,000 shares) 17,000 Net common equity $122,000 a. How many shares are issued? b. How many […]
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