Required information [The following information applies to the questions displayed below.) Markus Company's common stock sold for $5.75 per share at the end of this year. The company paid a common stock dividend of $0.69 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income Common stock, $1 par value Total stockholders' equity $ 650,000 Total liabilities and stockholders' equity $868,000 This Year $1,160,000 $ 672,800 $ 487,200 $ 352,750 Ending Balance $ 17,000 $ 235,025 Beginning Balance. $ 51,000 $ 46,000 $ 98,000 $70,000 $ 77,800 $ 98,000 $226,800 $ 214,000 $868,000 $956,200 $90,000 $ 96,000 $218,000 $196,200 $ 172,000 $172,000 $760,000 $956,200
Required information [The following information applies to the questions displayed below.) Markus Company's common stock sold for $5.75 per share at the end of this year. The company paid a common stock dividend of $0.69 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Sales (all on account) Cost of goods sold Gross margin Net operating income Interest expense Net income Common stock, $1 par value Total stockholders' equity $ 650,000 Total liabilities and stockholders' equity $868,000 This Year $1,160,000 $ 672,800 $ 487,200 $ 352,750 Ending Balance $ 17,000 $ 235,025 Beginning Balance. $ 51,000 $ 46,000 $ 98,000 $70,000 $ 77,800 $ 98,000 $226,800 $ 214,000 $868,000 $956,200 $90,000 $ 96,000 $218,000 $196,200 $ 172,000 $172,000 $760,000 $956,200
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter17: Accounting For Notes And Interest
Section: Chapter Questions
Problem 6RQ
Related questions
Question
Subject: acounting
Transcribed Image Text:6. What is the book value per share at the end of this year? (Round your answer to 2 decimal place.)
Book value per share
![Required information
[The following information applies to the questions displayed below.]
Markus Company's common stock sold for $5.75 per share at the end of this year. The company paid a common stock
dividend of $0.69 per share this year. It also provided the following data excerpts from this year's financial statements:
Cash
Accounts receivable
Inventory
Current assets
Total assets
Current liabilities
Total liabilities
Sales (all on account)
Cost of goods sold
Gross margin
Net operating income
Interest expense
Net income
Ending
Balance
Common stock, $1 par value
Total stockholders' equity
Total liabilities and stockholders' equity $868,000
This Year
$1,160,000
$ 672,800
$ 487,200
$ 352,750
$ 17,000
$ 235,025
Beginning
Balance
$ 46,000
$ 51,000
$ 98,000 $70,000
$ 77,800 $ 98,000
$226,800 $ 214,000
$868,000 $956,200.
$ 90,000 $ 96,000
$ 218,000 $196,200.
$ 172,000 $ 172,000
$ 650,000 $760,000
$956,200](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7fe5a73-45e4-4166-8ba1-50e355550dfc%2F35e2e8f0-fe72-408d-8d12-a49b2998981e%2Fh497yc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Markus Company's common stock sold for $5.75 per share at the end of this year. The company paid a common stock
dividend of $0.69 per share this year. It also provided the following data excerpts from this year's financial statements:
Cash
Accounts receivable
Inventory
Current assets
Total assets
Current liabilities
Total liabilities
Sales (all on account)
Cost of goods sold
Gross margin
Net operating income
Interest expense
Net income
Ending
Balance
Common stock, $1 par value
Total stockholders' equity
Total liabilities and stockholders' equity $868,000
This Year
$1,160,000
$ 672,800
$ 487,200
$ 352,750
$ 17,000
$ 235,025
Beginning
Balance
$ 46,000
$ 51,000
$ 98,000 $70,000
$ 77,800 $ 98,000
$226,800 $ 214,000
$868,000 $956,200.
$ 90,000 $ 96,000
$ 218,000 $196,200.
$ 172,000 $ 172,000
$ 650,000 $760,000
$956,200
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Recommended textbooks for you
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning