Sheffield Corp.

Balance Sheet

December 31, 2021

Assets

Equities

Cash $ 283000

Accounts payable$ 633000

Accounts receivable (net) 1949000

Income taxes payable 191000

Inventories 2452000

Miscellaneous accrued payables225000

Plant and equipment,

Bonds payable (8%, due 2023) 1800000

net of depreciation1982000

Preferred stock ($100 par, 6%

Patents 259000

cumulative nonparticipating)752000

Other intangible assets 75700

Common stock (no par, 60,000

Total Assets $7000700

shares authorized, issued and outstanding) 1121000

Retained earnings2506700

Treasury stock-1500 shares of preferred (228000)

Total Equities $7000700

Sheffield Corp.

Income Statement

Year Ended December 31, 2021

Net sales $8600000

Cost of goods sold 6200000

Gross profit 2400000

Operating expenses (including bond interest expense)1600000

Income before income taxes 800000

Income tax 450000

Net income $ 350000

Additional information:

There are no preferred dividends in arrears, the balances in the Accounts Receivable and Inventory accounts are unchanged from January 1, 2021, and there were no changes in the Bonds Payable, Preferred Stock, or Common Stock accounts during 2021. Assume that preferred dividends for the current year have not been declared.

At December 31, 2021, the book value per share of common stock was ?