Question
Peterson Company has the following stockholders' equity section in its December 31, 2003, balance sheet: Stockholders' Equity 11% Preferred Stock, 11000 shares issued $792000 Common
Peterson Company has the following stockholders' equity section in its December 31, 2003, balance sheet:
Stockholders' Equity
11% Preferred Stock, 11000 shares issued $792000
Common Stock, 67000 shares issued 1474000
Additional Paid-in Capital 2828753
Retained Earnings 1775891
Treasury stock, 7000 shares at cost (210000)
Total Stockholders' Equity $6660644
At the end of 2002, there were no preferred stock dividends in arrears. In 2003, Peterson Company declared and paid a $19000 cash dividend. The preferred stock has a liquidation preference of $73 per share.
Compute the book value per share of preferred stock and compute the book value per share of common stock. Round to the nearest cent.
The book value per share of the preferred stock is
book value per share of the common stock is $
.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started