The Tiffin corporation has assets of $424,000, current liabilities of $45,000, and long-term liabilities of $71,000. There is $30,000 in preferred stock outstanding: 20,000 shares of common stock have been issued. a. Compute book value (net worth) per share. (Round your answer to 2 decimal places.)

The Tiffin corporation has assets of $424,000, current liabilities of $45,000, and long-term liabilities of $71,000. There is $30,000 in preferred stock outstanding: 20,000 shares of common stock have been issued. a. Compute book value (net worth) per share. (Round your answer to 2 decimal places.)

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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Question

The Tiffin corporation has assets of $424,000, current liabilities of $45,000, and long-term liabilities
of $71,000. There is $30,000 in preferred stock outstanding: 20,000 shares of common stock have
been issued.
a. Compute book value (net worth) per share. (Round your answer to 2 decimal places.)

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