Heather Valley Company has the following amounts in the Stockholders' Equity category of the balance sheet at December 31,2017:
$\begin{array}{lr}
\text { Preferred stock } \$ 100 \text { par, } 8 \% \text {, noncumul ative (liquidation value of }&\$ 100,000\
\$ 120 \text { per share) } & \
\text { Paid-in capital?preferred } & 60,000 \
\text { Common stock, } \$ 5 \text { par } & 450,000 \
\text { Paid-in capital—common } & 50,000 \
\text { Retained earnings } & 225,000
\end{array}$

Required
Determine the book value per share of the Heather Valley Company stock.

Question

Heather Valley Company has the following amounts in the Stockholders' Equity category of the balance sheet at December 31,2017:
 $\begin{array}{lr}
\text { Preferred stock } \$ 100 \text { par, } 8 \% \text {, noncumul ative (liquidation value of }&\$ 100,000\
\$ 120 \text { per share) } &  \
\text { Paid-in capital?preferred } & 60,000 \
\text { Common stock, } \$ 5 \text { par } & 450,000 \
\text { Paid-in capital—common } & 50,000 \
\text { Retained earnings } & 225,000
\end{array}$

Required
Determine the book value per share of the Heather Valley Company stock.

Quizplus · Accepted Answer

The Answer of Heather Valley Company has the following amounts in the Stockholders' Equity category of the balance sheet at December 31,2017:
 $\begin{array}{lr}
\text { Preferred stock } \$ 100 \text { par, } 8 \% \text {, noncumul ative (liquidation value of }&\$ 100,000\
\$ 120 \text { per share) } &  \
\text { Paid-in capital?preferred } & 60,000 \
\text { Common stock, } \$ 5 \text { par } & 450,000 \
\text { Paid-in capital—common } & 50,000 \
\text { Retained earnings } & 225,000
\end{array}$

Required
Determine the book value per share of the Heather Valley Company stock.

Heather Valley Company Has the Following Amounts in the Stockholders