Question

Exercise 11-16 Book value per share LO A4 The equity section of Cyril Corporation’s balance sheet...

Exercise 11-16 Book value per share LO A4

The equity section of Cyril Corporation’s balance sheet shows the following:

Preferred stock—5% cumulative, $20 par value,
10,000 shares issued and outstanding		 $ 200,000
Common stock—$10 par value, 45,000 shares
issued and outstanding		 450,000
Retained earnings 267,500
Total stockholders’ equity $ 917,500


This year's dividends on preferred stock have been paid. Determine the book value per share of common stock under two separate situations.

1. No preferred dividends are in arrears.
2. Three years of preferred dividends are in arrears.

Book Value per Common Share
Choose Numerator: / Choose Denominator: = Book Value per Common Share
/ = Book value per common share
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