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Business, 05.05.2020 05:08 coralaguilar1702

1. A company has 1,000 outstanding common shares with a $5/share par value, additional paid-in capital of $5,000, and a deficit of $6,500 in retained earnings. It reduces its assets by $2,000 to report them at fair value. To achieve a successful quasi-reorganization, the company must reduce the par value of its common shares by: A. $3.00 per share B. $3.50 per share C. $2.00 per share D. $2.50 per share

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