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Business, 25.02.2020 00:58 kamilahmcneil3969

Morgan Sondgeroth Inc. began operations in January 2012 and reported the following results for each of its 3 years of operations. 2012 $287,400 net loss 2013 $43,600 net loss 2014 $739,800 net income At December 31, 2014, Morgan Sondgeroth Inc. capital accounts were as follows. 8% cumulative preferred stock, par value $100; authorized, issued, and outstanding 6,920 shares $692,000 Common stock, par value $1.00; authorized 1,000,000 shares; issued and outstanding 771,000 shares $771,000 Morgan Sondgeroth Inc. has never paid a cash or stock dividend. There has been no change in the capital accounts since Sondgeroth began operations. The state law permits dividends only from retained earnings. (a) Compute the book value of the common stock at December 31, 2014. (Round answers to 2 decimal places, e. g. $38.50.) Book value per share $Entry field with incorrect answer (b) Compute the book value of the common stock at December 31, 2014, assuming that the preferred stock has a liquidating value of $108 per share. (Round answers to 2 decimal places, e. g. $38.50.)

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Morgan Sondgeroth Inc. began operations in January 2012 and reported the following results for each...
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