This question was created from Quiz 1 ACCT II UMUC.docx

At fiscal year end, December 31, 2&13, Somerset Corporation had total stockholders‘
equity of $4,200,0fl0. On FY 20’18 year end, Somerset Corporation had Common Stock
account of $1,450,000 of $10 par value common stock and Preferred Stock account of
$150,011!) of $100 par value. There was no treasury stock. The preferred stock was
noncumulative and had a call price of $1113. Use this information to determine the book
value per share of Common Stock as of end of the FY 2013: {Round your answer to the
nearest penny.)