ESSENTIALS OF INVESTMENTS - CONNECT ACCE
ESSENTIALS OF INVESTMENTS - CONNECT ACCE
11th Edition
ISBN: 9781266077951
Author: Bodie
Publisher: INTER MCG
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Chapter 14, Problem 15PS

A11 analyst gathers the following information about Meyer, Inc.:

  • Meyer has 1, 000 shares of 8 % cumulative preferred stock outstanding, with a par value of $ 1 00 and liquidation value of $ 11 0 .
  • Meyer has 2 0 , 000 shares of common stock outstanding, with a par value of $ 2 0 .
  • Meyer had retained earnings at the beginning of the year of $ 5 , 000 , 000 .
  • Net income for the year was $ 7 0 , 000 .
  • This year, for the first time in its history, Meyer Paid no dividends on preferred or common stock.

What is the book value per share of Meyer's common stock? LO 14 1

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