Given below are comparative statements of financial position (balance sheets) and an income statement for Namekagon Corporation. Namekagon Corporation Balance Sheets - Year 2 Cash Accounts receivable Inventory Equipment (net) Total Accounts payable Dividends payable Long-term note payable Capital stock, $5 par Retained earnings Total Namekagon Corporation Income Statement For the year ended Year 2 Sales Cost of goods sold Gross profit on sales Operating expenses Operating income Interest expense December 31 January 1 $ 15,600 $ 15,600 46,800 32,500 57,200 $ 152,100 26,000 7,800 14,300 72,800 31,200 $ 152,100 $ 228,800 137,540 $ 91,260 75,868 $ 15,392 9,100 Net income $ 6,292 What is the book value per share for Yr 2? A. $10.58 B. $21.16 C. $7.32 D. $3.14 37,700 36,400 66,300 $ 156,000 28,600 3,900 14,300 72,800 36,400 $ 156,000
Given below are comparative statements of financial position (balance sheets) and an income statement for Namekagon Corporation. Namekagon Corporation Balance Sheets - Year 2 Cash Accounts receivable Inventory Equipment (net) Total Accounts payable Dividends payable Long-term note payable Capital stock, $5 par Retained earnings Total Namekagon Corporation Income Statement For the year ended Year 2 Sales Cost of goods sold Gross profit on sales Operating expenses Operating income Interest expense December 31 January 1 $ 15,600 $ 15,600 46,800 32,500 57,200 $ 152,100 26,000 7,800 14,300 72,800 31,200 $ 152,100 $ 228,800 137,540 $ 91,260 75,868 $ 15,392 9,100 Net income $ 6,292 What is the book value per share for Yr 2? A. $10.58 B. $21.16 C. $7.32 D. $3.14 37,700 36,400 66,300 $ 156,000 28,600 3,900 14,300 72,800 36,400 $ 156,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Acount
Transcribed Image Text:Given below are comparative statements of financial position (balance sheets) and an income statement for Namekagon
Corporation.
Namekagon Corporation
Balance Sheets - Year 2
Cash
Accounts receivable
Inventory
Equipment (net)
Total
Accounts payable
Dividends payable
Long-term note payable
Capital stock, $5 par
Retained earnings
Total
Namekagon Corporation
Income Statement
For the year ended Year 2
Sales
Cost of goods sold
Gross profit on sales
Operating expenses
Operating income
Interest expense
December 31 January 1
$ 15,600
$ 15,600
46,800
32,500
57,200
$ 152,100
Net income
26,000
7,800
14,300
72,800
31,200
$ 152,100
$ 228,800
137,540
$ 91,260
75,868
$ 15,392
9,100
$ 6,292
What is the book value per share for Yr 2?
A. $10.58
B. $21.16
C. $7.32
D. $3.14
37,700
36,400
66,300
$ 156,000
28,600
3,900
14,300
72,800
36,400
$ 156,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education