The following information relates to Truman Unlimited for the past two years. Account Current year Prior year
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Question:
The following information relates to Truman Unlimited for the past two years.
Account | Current year | Prior year |
Net sales (all credit) | $219,000 | $180,000 |
Cost of goods sold | $125,000 | $110,000 |
Gross profit | $94,000 | $70,000 |
Income from operations | $32,000 | $30,000 |
Interest expense | $2,000 | $7,000 |
Net income | $25,000 | $18,000 |
Cash | $25,000 | $17,000 |
Accounts receivable, net | $26,000 | $35,000 |
Inventory | $65,000 | $60,000 |
Prepaid expenses | $2,000 | $1,000 |
Total current assets | $118,000 | $113,000 |
Total longminus-term assets | $162,750 | $187,751 |
Total current liabilities | $60,000 | $90,000 |
Total longminus-term liabilities | $22,000 | $78,000 |
Common stock, no par, 2,500 shares, market value $96 per share | $40,000 | $40,000 |
Retained earnings | $158,750 | $92,751 |
The book value per share of common stock for the current year is
A. $52.77.
B. $13.50.
C. $96.00.
D. $79.50
Related Book For
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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