Q13

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 $250,000 of $100 par value.  There was no treasury stock. The preferred stock was noncumulative and had a call price of $102.  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.)

Q14

The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal):

Item/Account

2018

2017

Cash

$35,000

$24,000

Accounts Receivable

56,000

52,000

Inventory

40,000

34,000

Current Liabilities

76,000

42,000

Net Sales (all credit)

550,000

485,000

Cost of Goods Sold

310,000

265,000

Use this information to determine the number of days in inventory for 2018: (Use a 365 day year. Round & enter your answers to one decimal place and enter the value.)

Q15

The following financial information is for Chesapeake Corporation are for the fiscal years ending 2018 & 2017 (all balances are normal):

Item/Account

2018

2017

Cash

25,000

$24,000

Accounts Receivable

56,000

52,000

Inventory

44,000

48,000

Current Liabilities

68,000

42,000

Net Sales (all credit)

550,000

485,000

Cost of Goods Sold

288,000

265,000

Use this information to determine the number of current ratio as of December 31, 2018: (Round & enter your answers to one decimal place and enter the value.)