Consider the following balance‐sheet entries for Delta Corporation:

Balance Sheet Statement as of December 31, 201X

Assets

Cash…………………………………………….........……….…$150,000

Marketable securities……………………………………..$200,000

Accounts receivable………………………………...………$150,000

Inventories………………………………………………...........$50,000

Prepaid taxes and insurance………………………………$30,000

Manufacturing plant at cost………………………………$600,000

Less accumulated depreciation………………………..$100,000

Net fixed assets………………………………………...….....$500,000

Goodwill………………………………………………......….......$20,000

Liabilities and Shareholders’ Equity

Notes payable……………………………….....………..............……$50,000

Accounts payable………………………………..….............……...$100,000

Income taxes payable…………………………….................……..$80,000

Long-term mortgage bonds………………………................…$400,000

Preferred stock, 6%, $100 par value (1,000 shares)…...$100,000

Common stock, $15 par value (10,000 shares)………….$150,000

Capital surplus…………………………………………...................$150,000

Retained earnings...............................................................$70,000

(a) Compute the following for the firm:

Current assets: $ __________
Current liabilities: $ __________
Working capital: $ __________
Shareholders’ equity: $ __________

(b) If the firm had a net income after taxes of $500,000, what are the earnings per share?
(c) When the firm issued its common stock, what was the market price of the stock per share?