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At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders' equity of $3,900,000. On...

At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders' equity of $3,900,000. On FY 2018 year end, Somerset Corporation had Common Stock account of $1,550,000 of $10 par value common stock and Preferred Stock account of $150,000 of $100 par value. There was no treasury stock. The preferred stock was noncumulative and had a call price of $101. Use this information to determine the book value per share of Common Stock as of end of the FY 2018: (Round your answer to the nearest penny.)

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Answer #1
Total equity 3900000
Less preferred stock value 1500*101
151500
Total equity shareholder value 3748500
Total number of shares 155000
Book value per share 3748500/155000
24.18387097
24.18 Round
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