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An analyst gathers the following information about Meyer, Incorporated: Meyer has 1 , 0 0 0 shares of 1 0 % cumulative preferred stock outstanding,
An analyst gathers the following information about Meyer, Incorporated:
Meyer has shares of cumulative preferred stock outstanding, with a par value of $ and liquidation value of $
Meyer has shares of common stock outstanding, with a par value of $
Meyer had retained earnings at the beginning of the year of $
Net income for the year was $
This year, for the first time in its history, Meyer paid no dividends on preferred or common stock.
Required:
a Calculate the total book value of Meyer's common stock.
Total book value
b What is the book value per share of Meyer's common stock? Round your answer to decimal places.
Book value per shar
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