1. At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders' equity of $3,500,000. On FY 2018 year end, Somerset Corporation had Common Stock account of $1,650,000 of $10 par value common stock and Preferred Stock account of $150,000 of $100 par value.There was no treasury stock. The preferred stock was noncumulative and had a call price of $103.Use this information to determine the book value per share of Common Stock as of end of the FY 2018: (Round your answer to the nearest penny.)
2. Allstar Company signed a $250,000 mortgage on July 1, 2018 for the purchase of their new garage building. The mortgage entailed equal monthly payments of $2,600 at the end of each month. The interest rate is 4.0% per year.How much interest expense will be paid on August 31, 2018? (Round your answer to the nearest whole dollar.)
3. On January 2, 2018, All Good Company purchased 9,000 shares of the stock of Big Bad Company, and DID obtain significant influence.The investment is intended as a long-term investment.The stock was purchased for $20 per share, and represents a 30% ownership stake.Big BadCompany made $600,000 of net income in 2018, and paid dividends to All Good Company of $35,000 on December 15, 2018.Big Bad Company's stock was trading on the open market for $19 per share at the end of the year.Use this information to determine the book value of the investment that should be reported at year end by All Good Company. Round to nearest whole dollar.