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Shares of common stock outstanding

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Missouri Valley Industries, Inc. has 2,000,000 shares of common stock outstanding and total equity as given below:

Preferred Stock ($100 par value) $2,000,000

Common Stock ($1.00 par value) 2,000,000

Capital Surplus 6,000,000

Retained Earnings 10,000,000

Total Equity $20,000,000

Calculate the book value per share of its common stock. Assuming that all 2,000,000 shares ofcommon stock were sold at the same time, what was the price per share at the time of issue?

Reference no: EM131041190

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