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1. (10 percent) Benn Corp.'s December 31, 2015, balance sheet showed total common equity of $4,150,000 and 300,000 shares of stock outstanding. During 2016, the firm had $450,000 of net income, and it paid out $100,000 as dividends. What was the book value per share at 12/31/16, assuming no common stock was either issued or retired during 2016?

1. (10 percent) Benn Corp.'s December 31, 2015, balance sheet showed total common equity of $4,150,000 and 300,000 shares of stock outstanding. During 2016, the firm had $450,000 of net income, and it paid out $100,000 as dividends. What was the book value per share at 12/31/16, assuming no common stock was either issued or retired during 2016?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. (10 percent) Benn Corp.'s December 31, 2015, balance sheet showed total common equity of $4,150,000 and 300,000 shares of stock outstanding. During 2016, the firm had $450,000 of net income, and it paid out $100,000 as dividends. What was the book value per share at 12/31/16, assuming no common stock was either issued or retired during 2016?
Transcribed Image Text:1. (10 percent) Benn Corp.'s December 31, 2015, balance sheet showed total common equity of $4,150,000 and 300,000 shares of stock outstanding. During 2016, the firm had $450,000 of net income, and it paid out $100,000 as dividends. What was the book value per share at 12/31/16, assuming no common stock was either issued or retired during 2016?
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