Western Grass Inc. Equity Section of Balance Sheet December...
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Accounting
Western Grass Inc.
Equity Section of Balance Sheet
December 31, 2017
Contributed capital:
Preferred shares, $5 cumulative, 10,000 shares authorized, issued and outstanding
$
125,000
Common shares, 100,000 shares authorized; 70,000 shares issued and outstanding
595,000
Total contributed capital
$
720,000
Retained earnings
611,000
Total equity
$
1,331,000
Required: Using the information provided, calculate book value per common share assuming. (Round the final answers to 2 decimal places.) a. There are no dividends in arrears. b. There are three years of dividends in arrears.
Book Value of Common Shares
a.
b.
Answer & Explanation
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