Reference no: EM132631394

Questions -

Question 1 - At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders' equity of $4,500,000. On FY 2018 year end, Somerset Corporation had Common Stock account of $1,850,000 of $10 par value common stock and Preferred Stock account of $100,000 of $100 par value. There was no treasury stock. The preferred stock was noncumulative and had a call price of $104. Use this information to compute the book value per share of Common Stock as of end of the FY 2018: (Round your answer to the nearest penny.)

Question 2 - The following information is related to Towson Company's fiscal year 2018.

Income Statement:

Net Income $3,200,000

Depreciation Expense 450,000

Loss on Sale of Plant Assets 70,000

Interest Expense 5,000

Balance Sheet - 12/31/17: Increase (Decrease)

Accounts Payable decrease 25,000

Plant Assets - Purchased 250,000

Plant Assets - Disposals (100,000)

Additional Information:

Common Stock exchanged for outstanding Long Term Notes Payable of $125,000

Dividends paid were $30,000

Use this information to determine Towson Company's Net Cash Flows from Operating Activities. If the amount is an outflow then enclose the amount with dollar sign inside of brackets ( ).