The following information from St. Paul Supply, Inc. is provided for 2017 and 2016:

	12/31/17	12/31/16
12% Cumulative preferred stock, $20 par	$200,000	$200,000
Common stock, $5 par	40,000	28,000
Additional paid-in capital - common	80,000	50,000
Retained earnings	500,000	500,000
Net income	60,000	40,000

Additional information:

No preferred dividends are in arrears. The market price of the common stock was $25 at December 31, 2017. Calculate the book value per share of common stock at December 31, 2017.

Answer rating: 100% (QA)

The book value per share of common stock at December 31 2017 is calculated below Th... View the full answer