WIU FLUJ chib.doc - Box actice Assignment Gradebook Downloadable eTextbook nment FULL SCREEN PRINT Exercise 15-24 Johnstone Inc. began operations in January 2014 and reported the following results for each of its 3 years of operations. 2014 $260,000 net loss 2015 $40,000 net loss 2016 $700,000 net income At December 31, 2016, Johnstone Inc. share capital accounts were as follows. Share Capital-Preference, 6% cumulative, par value $100; authorized, issued, and outstanding 5,000 shares $500,000 Share Capital-Ordinary, par value $1.00; authorized 1,000,000 shares; issued and outstanding 750,000 shares $750,000 Johnstone Inc. has never paid a cash or share dividend. There has been no change in the share capital accounts since Johnstone began permits dividends only from retained earnings. Compute the book value of the ordinary shares at December 31, 2016. (Round answer to 2 decimal places, e.g. 1.25.) Book value of the ordinary shares Compute the book value of the ordinary shares at December 31, 2016, assuming that the preference shares have a liquidating value of answer to 2 decimal places, e.g. 1.25.) Book value of the ordinary shares By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor WIU FLUJ chib.doc - Box actice Assignment Gradebook Downloadable eTextbook nment FULL SCREEN PRINT Exercise 15-24 Johnstone Inc. began operations in January 2014 and reported the following results for each of its 3 years of operations. 2014 $260,000 net loss 2015 $40,000 net loss 2016 $700,000 net income At December 31, 2016, Johnstone Inc. share capital accounts were as follows. Share Capital-Preference, 6% cumulative, par value $100; authorized, issued, and outstanding 5,000 shares $500,000 Share Capital-Ordinary, par value $1.00; authorized 1,000,000 shares; issued and outstanding 750,000 shares $750,000 Johnstone Inc. has never paid a cash or share dividend. There has been no change in the share capital accounts since Johnstone began permits dividends only from retained earnings. Compute the book value of the ordinary shares at December 31, 2016. (Round answer to 2 decimal places, e.g. 1.25.) Book value of the ordinary shares Compute the book value of the ordinary shares at December 31, 2016, assuming that the preference shares have a liquidating value of answer to 2 decimal places, e.g. 1.25.) Book value of the ordinary shares By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor