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Reling Company reports the following information as of 12/31/05 10% cumulative preferred stock, par value $10 and liquidation value $11; 20,000 shares authorized and issued: 10,000 shares outstanding Common stock - authorized 50,000 and 40,000 outstanding; $1 par value Additional paid-in capital Retained earnings $100,000 $ 40,000 $350,000 $230,000

Reling Company reports the following information as of 12/31/05 10% cumulative preferred stock, par value $10 and liquidation value $11; 20,000 shares authorized and issued: 10,000 shares outstanding Common stock - authorized 50,000 and 40,000 outstanding; $1 par value Additional paid-in capital Retained earnings $100,000 $ 40,000 $350,000 $230,000

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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Use attachment to answer the following 

The book value per share of common stock is: 

a) $12.20.
b) $15.25.
c) $12.40.
d) $15.50.
Reling Company reports the following information as of 12/31/05 10% cumulative preferred stock, par value $10 and liquidation value $11; 20,000 shares authorized and issued: 10,000 shares outstanding Common stock - authorized 50,000 and 40,000 outstanding; $1 par value Additional paid-in capital Retained earnings $100,000 $ 40,000 $350,000 $230,000
Transcribed Image Text:Reling Company reports the following information as of 12/31/05 10% cumulative preferred stock, par value $10 and liquidation value $11; 20,000 shares authorized and issued: 10,000 shares outstanding Common stock - authorized 50,000 and 40,000 outstanding; $1 par value Additional paid-in capital Retained earnings $100,000 $ 40,000 $350,000 $230,000
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