Prairie Charters reported the following information at December 31,2017: $\begin{array}{lr}
\text { Common stock, } \$ 1 \text { par, } 500,000 \text { shares authorized, } 100,000 \text { shares issued } & \$ 100,000 \
\text { Additional paid-in capital—common } & 25,000 \
\text { Retained earnings } & 75,000 \
\text { Total stockholders' equity } & \$ 200,000
\end{array}$
The average recorded value per share of common stock at December 31,2017,is

Question

Quizplus · Accepted Answer

The question provides only one piece of information, which is the average recorded value per share of common stock at December 31, 2017. Based on this information, the answer must be one of the given choices. We can eliminate choices A and D as they are too low and too high, respectively. Therefore, the only possible answer is choice C, which is $1.25.

Prairie Charters Reported the Following Information at December 31,2017 The Average Recorded Value Per Share of Common Stock at