QS 11-24 Book value per common share LO A4

The stockholders equity section of Montel Companys balance sheet follows. This years dividends on preferred stock have been paid and no preferred dividends are in arrears.

Preferred stock5% cumulative, $10 par value, 12,000 shares authorized, issued and outstanding	$	120,000
Common stock$5 par value, 257,000 shares authorized, 207,000 shares issued and outstanding		1,035,000
Retained earnings		964,500
Total stockholders' equity	$	2,119,500

Determine the book value per share of the common stock.

Book Value Per Common Share Choose Numerator: 7 Choose Denominator: Book Value Per Common Share 7 Book Value Per Common Share 7 =