At year end,the Tangshan China Company balance sheet showed total assets of $60 million,total liabilities (including preferred stock)of $45 million,and 1,000,000 shares of common stock outstanding.Based on this information,Tangshan's book value per share of common stock is ________.

Question

Quizplus · Accepted Answer

The book value per share is calculated as (Total Assets - Total Liabilities) / Number of Common Shares. Here, it is ($60 million - $45 million) / 1,000,000 shares = $15 per share.

At Year End,the Tangshan China Company Balance Sheet Showed Total