The Quizon Corporation reported the following income statement and balance sheet amounts and

additional information for the end of the current year.

End of this year End of last year

Sales Php 610,000

Cost of sales Php 362,500

Gross income Php 247,500

Operating expenses Php 140,000

Interest expense Php 21,000

Net Income Php 86,500

Current assets Php 56,500 Php 41,000

Non-current assets Php 256,000 Php 220,000

Total assets Php 312,500 Php 261,000

Current liabilities Php 28,500 Php 26,000

Long-term liabilities Php 137,500 Php 122,500

Ordinary shareholders' equity Php 146,500 Php 112,500

Total liabilities and shareholders' equity Php 312,500 Php 261,000

Inventory and prepaid expenses account for Php 15,000 of the current year's current assets.

Average inventory for the current year is Php 18,125.

Average net accounts receivable for the current year is Php 22,500.

There are 35,000 ordinary shares outstanding.

Total dividends paid during the current year were Php 8,500.

The market price per ordinary share is Php 10.

What is the book value per ordinary share?

Select one:

a. Php 12.21

b. Php 10.00

c. Php 4.19

d. Php 13.56