Homework Answers
The correct answer is c. $13.93
The book value of shares include, value of common stock,
additional paid in capital, retained earnings, etc. Therefore, take
the total shareholders equity value at the end of year 2 as book
value.
The adjustment for dividend paid and net income is already adjusted
in the value of retained earnings.
Book value = $1,114,000
Number of shares outstanding = $400,000/$5 = 80,000 shares
Book value per share = $1,114,000/ 80,000 = $13.93
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