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The balance sheet of Wireless, Inc., reported the following:6 Preferred stock, 9%, $20 par, 1,300 shares authorized, issued  and outstanding               = 00$2600  Common stock, no-par value, 12,000 shares authorized, 5,300 shares issued                    =0200,000 Retained earnings                                                                                           =0050,000 Total stockholders’ equity                                                                              =$276,000 Assume that wireless has paid preferred dividends for the current year and all prior years (no dividends in arrears).

The balance sheet of Wireless, Inc., reported the following:6 Preferred stock, 9%, $20 par, 1,300 shares authorized, issued  and outstanding               = 00$2600  Common stock, no-par value, 12,000 shares authorized, 5,300 shares issued                    =0200,000 Retained earnings                                                                                           =0050,000 Total stockholders’ equity                                                                              =$276,000 Assume that wireless has paid preferred dividends for the current year and all prior years (no dividends in arrears).

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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The balance sheet of Wireless, Inc., reported the following:6

Preferred stock, 9%, $20 par, 1,300 shares authorized, issued  and outstanding               = 00$2600

 Common stock, no-par value, 12,000 shares authorized, 5,300 shares issued                    =0200,000

Retained earnings                                                                                           =0050,000

Total stockholders’ equity                                                                              =$276,000

Assume that wireless has paid preferred dividends for the current year and all prior years (no dividends in arrears).

 

 

Requirement

 

  1. Compute the book value per share of the common stock.

 

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