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At December 31, Bramble Corp. has total stockholders equity of $3,320,000. Included in this total are preferred stock $456,000 and paid-in capital in excess of
At December 31, Bramble Corp. has total stockholders equity of $3,320,000. Included in this total are preferred stock $456,000 and paid-in capital in excess of parpreferred stock $48,200. There are 11,900 shares of $50 par value, 8% cumulative preferred stock outstanding. At year-end, 219,000 shares of common stock are outstanding. Compute the book value per share of common stock under each of the following assumptions. (Round answers to 2 decimal places, e.g. 15.25.)
(a) | There are no preferred dividends in arrears, and the preferred stock does not have a call price. | ||
(b) | Preferred dividends are one year in arrears, and the preferred stock has a call price of $51 per share. |
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