A condensed balance sheet for Bradford Corporation prepared at the end of the ye

Question

A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows: Assets Liabilities & Stockholders' Equity Cash $ 95,000 Notes payable (due in 6 months) $ 40,000 Accounts receivable 155,000 Accounts payable 110,000 Inventory 270,000 Long-term liabilities 360,000 Prepaid expenses 60,000 Capital stock, $5 par 300,000 Plant & equipment (net) 570,000 Retained earnings 430,000 Other assets 90,000 Total $ 1,240,000 Total $ 1,240,000 During the year the company earned a gross profit of $1,116,000 on sales of $2,950,000. Accounts receivable, inventory, and plant assets remained almost constant in amount throughout the year.

Compute the book value per share of capital stock. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Compute the book value per share of capital stock. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Explanation / Answer

BV of share= total shareholder equity/no of shares = (300,000+430,000) / (300,000/5) =$12.167

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