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Determine the book value per share on ordinary share

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Reference no: EM132799790

Question - White Corporation's December 31, 2012 balance sheet reports the following shareholders' equity:

8% Cumulative Preference share capital, P100 par value per share, 10,000 shares issued and outstanding P 1,000,000

Ordinary share capital, P100 par value, 50,000 shares issued and outstanding 5,000,000

Share premium reserve 600,000

Accumulated profits 1,500,000

Dividends are in arrears for 3 years on the preference share capital. If White is to be liquidated, the preference shareholders would receive par value plus a premium of P10 per share. Determine the book value per share on ordinary share?

a. 133.60

b. 135.20

c. 136.80

d. 137.20

Reference no: EM132799790

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