Biology Forums - Study Force

Sperle Corporation has provided the following data concerning its stockholders’ equity accounts:

	Year 2	Year 1
Stockholders' equity:
Common stock, $5 par value	$ 400,000	$ 400,000
Additional paid-in capital	60,000	60,000
Retained earnings	654,000	630,000
Total stockholders' equity	$ 1,114,000	$ 1,090,000

Net income for Year 2 was $30,400. Dividends on common stock during Year 2 totaled $6,400. The market price of common stock at the end of Year 2 was $3.08 per share.

The company’s book value per share at the end of Year 2 is closest to:

▸ $0.38 per share

▸ $8.18 per share

▸ $18.08 per share

▸ $13.93 per share

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