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How much is the book value per ordinary share

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Reference no: EM133160569

Question - Joliette Co.'s equity structure at December 31, 2022 is shown below:

12% Preference sh., P200 par (liquidation value P220 per share) P5,000,000

Ordinary shares, P500 par 8,000,000

Subscribed share capital - ordinary shares 2,400,000

Subscription receivable (800,000)

Retained earnings 8,300,000

Treasury shares (at cost) - 4,800 ordinary shares (1,680,000)

Total shareholders' equity P21,220,000

The preference shares are noncumulative. Dividends are in arrears for five years. How much is the book value per ordinary share?

Reference no: EM133160569

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