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ecember 31, Blue paid-in capital in excess of par-preferred stock $52,000. There are 8,900 shares of $50 par value, 8% cumu standing. At year-end, 182,000 shares of common stock are outstanding. are of common stock under each of the following assumptions. (Round answers to

ecember 31, Blue paid-in capital in excess of par-preferred stock $52,000. There are 8,900 shares of $50 par value, 8% cumu standing. At year-end, 182,000 shares of common stock are outstanding. are of common stock under each of the following assumptions. (Round answers to

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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At December 31, Blue Spruce Corp. has total stockholders' equity of $3,460,000. Included in this total are preferred stock $454,000 and paid-in capital in excess of par-preferred stock $52,000. There are 8,900 shares of $50 par value, 8% cumulative preferred stock outstanding. At year-end, 182.000 shares of common stock are outstanding. Compute the book value per share of common stock under each of the following assumptions. (Round answers to 2 decimal places, e.g. 15.25.) (a) There are no preferred dividends in arrears, and the preferred stock does not have a call price. (b) Preferred dividends are one year in arrears, and the preferred stock has a call price of $60 per share. Book value per share $ (a) 16.23 (b) 15,88
Transcribed Image Text:At December 31, Blue Spruce Corp. has total stockholders' equity of $3,460,000. Included in this total are preferred stock $454,000 and paid-in capital in excess of par-preferred stock $52,000. There are 8,900 shares of $50 par value, 8% cumulative preferred stock outstanding. At year-end, 182.000 shares of common stock are outstanding. Compute the book value per share of common stock under each of the following assumptions. (Round answers to 2 decimal places, e.g. 15.25.) (a) There are no preferred dividends in arrears, and the preferred stock does not have a call price. (b) Preferred dividends are one year in arrears, and the preferred stock has a call price of $60 per share. Book value per share $ (a) 16.23 (b) 15,88
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