Multiple choice question 112 the following data are, Ask an Expert

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Multiple Choice Question 112 The following data are provided: December 31, 2013 2012 10% Cumulative preferred stock, $50 par $100,000 $100,000 Common stock, $10 par 160,000 90,000 Additional paid-in capital 80,000 65,000 Retained earnings (includes current year net income) 240,000 215,000 Net income 70,000 Additional information: On May 1, 2013, 7,000 shares of common stock were issued. The preferred dividends were not declared during 2013. The market price of the common stock was $50 at December 31, 2013. The book value per share of common stock at 12/31/13 is 470 ÷ 16. 370 ÷ 16. 240 ÷ 16. 480 ÷ 15.

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