Reference no: EM132562358
Question - The stockholders' equity section of the balance sheet for Minturn Mine Corporation is shown below:
Paid-in Capital Preferred Stock, 7%, $50 par value, 10,000 shares authorized, 7,000 shares issued, redemption value $56 per share -- $350,000
Paid-in capital in excess of par value - preferred --50,000
Common stock, $10 par value, 50,000 shares authorized, 18,000 shares issued -- 180,000
Paid-in capital in excess of par value - common -- 20,000
Total Paid-in capital -- $600,000
Retained earnings -- 300,000
Total stockholders' equity -- $900,000
Required - Compute the book value per share for Minturn Mine common stock?
a. $24.14.
b. $27.78.
c. $26.47.
d. $27.50.
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