On march 1, 20x8, wilson corporation sold goods for a u. s. dollar equivalent of $31,000 to a thai company. the transaction is denominated in thai baht. the payment is received on may 10. the exchange rates were: march 1: 1 baht = $0.031 may 10: 1 baht = 0.034 what entry is required to revalue foreign currency payable to u. s. dollar equivalent value on may 10?

Marcus nurseries inc.'s 2005 balance sheet showed total common equity of $2,050,000, which included $1,750,000 of retained earnings. the company had 100,000 shares of stock outstanding which sold at a price of $57.25 per share. if the firm had net income of $250,000 in 2006 and paid out $100,000 as dividends, what would its book value per share be at the end of 2006, assuming that it neither issued nor retired any common stock?