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Determine the book value per share

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Reference no: EM132911527

Question - Sibley Corporation's balance sheet reported the following shareholders' equity at December 31, 2017:

Preferred shares, $3, cumulative, 11,000 shares issued, liquidation value $55 per share $605,000

Common shares, 75,000 shares issued 2,000,000

Total contributed capital 2,605,000

Retained earnings 550,000

Total shareholders' equity $3,155,000

Assuming there are two years dividends in arrears (including 2017), determine the book value per share of both preferred and common shares.

Reference no: EM132911527

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