Question 50

1. Given below are comparative balance sheets and an income statement for Namekagon Corporation.

Namekagon Corporation balance Sheets - 2011				Namekagon Corporation Income Statement - 2011
	Dec. 31	1-Jan		For the year ended 2011
Cash	$15,600	$15,600		Sales	$228,800
Accounts receivable	46,800	37,700		Cost of Goods Sold	-137,540
Inventory	32,500	36,400		Gross profit on sales	$91,260
Equipment (net)	57,200	66,300		Operating expenses	-75,868
	$152,100	$156,000		Operating Income	$15,392
Accounts Payable	26,000	28,600		Interest Expense and income taxes	-9,100
Dividends payabl	7,800	3,900		Net income	6,292
Long Term note payable	14,300	14,300
Capital Stock $5 par	72,800	72,800
Retained Earnings	31,200	36,400
	$152,100	$156,000

2.

Namekagon Corporation's book value per share for 2011 is:

	A.	$7.32
	B.	$10.58
	C.	$21.16
	D.	$3.14