Pearl River Heavy Industries shows the following information in its financial statements:
| Total Assets | HK$146,000,000 |
| Total Liabilities | HK$87,000,000 |
| Net Income | HK$27,000,000 |
| Price per Share | HK$312 |
| Shares Outstanding | 200,000 |
The equity securities of Pearl River have a:
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Book value = Total assets ? total liabilities = 146,000,000 ? 87,000,000 = HK$59,000,000
Market value of equity = Market price per share × shares outstanding = HK$312 × 200,000 = HK$62,400,000
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