Compute the book value per share of the common stock

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Reference no: EM13527271

The following stockholders' equity accounts arranged alphabetically are in the ledger of McGrath Corporation at December 31, 2011.

Common Stock ($10 stated value)

$1,500,000

Paid-in Capital from Treasury Stock

6,000

Paid-in Capital in Excess of Stated Value-Common Stock

690,000

Paid-in Capital in Excess of Par Value-Preferred Stock

288,400

Preferred Stock (8%, $100 par, noncumulative)

400,000

Retained Earnings

776,000

Treasury Stock-Common (8,000 shares)

88,000

Instructions

(a) Prepare a stockholders' equity section at December 31, 2011.

(b) Compute the book value per share of the common stock, assuming the preferred stock has a call price of $110 per share.

Reference no: EM13527271

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