(13–9)

Price per Share The balance sheet of Roop Industries is shown below. The 12/31/2010 value of operations is $651 million, and there are 10 million shares of common equity. What is the intrinsic price per share?

Balance Sheet, December 31, 2010 (Mil l ions of Dollars)

Assets Liabilities and Equity Cash $ 20.0 Accounts payable $ 19.0 Marketable securities 47.0 Notes payable 65.0 Accounts receivable 100.0 Accruals 51.0 Inventories 200.0 Total current liabilities $135.0 Total current assets $367.0 Long-term bonds 131.0 Net plant and equipment 279.0 Preferred stock 33.0 Common stock (par plus PIC) 160.0 Retained earnings 187.0 Common equity $347.0 Total assets $646.0 Total liabilities and equity $646.0