Question

The stockholders’ equity section of Montel Company’s balance sheet follows. The preferred stock’s call price is $40. Determine the book value per share of the common stock.
Preferred stock—5% cumulative, $10 par value,
20,000 shares authorized, issued, and outstanding . . . . . . . . . $ 200,000
Common stock—$5 par value, 200,000 shares
authorized, 150,000 shares issued and outstanding . . . . . . . . . 750,000
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 900,000
Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,850,000


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  • CreatedApril 23, 2015
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