Golden Trust has the following stockholders’ equity:
Paid-in capital: | |
Perferred Stock, 7%, $13 par, 5,000 shares authorized, 3,500 shares issues | $45,500 |
Common Stock, $0.30 par, 1,400,000 shares authorized and issued | 420,000 |
Paid-in capital in excress of par-common | 325,000 |
Total paid-in capital | 790,500 |
Retained earnings | 260,000 |
Total stockholders’ equity | $1,050,500 |
Golden has not declared preferred dividends for five years (including the current year).
Requirement
Compute the book value per share of Golden’s preferred and common stock.