QUESTION 6

The following selected financial data were taken from the 10-K of ABC Company:
Selected Accounts	FY 2011	FY 2010	FY 2009
Net Revenue	$ 1,002,100	$ 980,500	$ 900,000
Cost of Goods Sold	$ 520,500	$ 514,762	$ 477,000
Operating Expenses	$ 170,200	$ 167,665	$ 155,700
Interest Expenses	$ 14,620	$ 12,100	$ 11,250
Earnings Before Income Tax	$ 287,588	$ 277,113	$ 249,550
Provision for Income Tax	$ 116,473	$ 113,616	$ 105,560
Net Profit	$ 171,115	$ 163,497	$ 143,990
Financial Information
Average Total Equity	$ 190,400	$ 189,000	$ 180,000
Paid Dividend on Preferred Stock	$ 75,900	$ 85,800	$ 84,300
Total Shareholders' Equity	$ 2,545,000	$ 2,350,000	$ 2,500,000
Average Total Assets	$ 839,000	$ 770,000	$ 765,000
Number of Outstanding Common Shares	$ 45,000	$ 40,000	$ 38,000
Average Long-Term Liabilities	$ 120,000	$ 112,000	$ 101,000
Preferred Stock Equity	$ 95,000	$ 90,000	$ 83,000
Market Value of Shares	$ 125	$ 98	$ 89

A. What information is communicated by the Book Value per Share? (10%)

B. Please calculate the Book Value per Share for the three fiscal years (5%)