You are analyzing Summit Hotels Inc. During the past year, the firm's income statement listed an addition to retained earnings of $8.40 million and common stock dividends of $2.10 million. Summit's year- end balance sheet shows common stockholders' equity of $64.5 million with 15 million shares of common stock outstanding. The common stock's market price per share was $12.50. What is Summit Hotels Inc.'s book value per share?

You are analyzing Summit Hotels Inc. During the past year, the firm's income statement listed an addition to retained earnings of $8.40 million and common stock dividends of $2.10 million. Summit's year- end balance sheet shows common stockholders' equity of $64.5 million with 15 million shares of common stock outstanding. The common stock's market price per share was $12.50. What is Summit Hotels Inc.'s book value per share?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 8RE: Given the following year-end information for Somerset Corporation, compute its basic earnings per...

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