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1.Shown below is information relating to the stockholders' equity of Grant Corporation at December 31,...

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Accounting

1.Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, 2018:

4.0% cumulative preferred stock, $100 par, 14,000 shares authorized, 7,000 shares issued $ 700,000
Common stock, $5 par, 300,000 shares authorized, 180,000 shares issued and outstanding $ 900,000
Additional paid-in capital: preferred stock $ 91,000
Additional paid-in capital: common stock $ 1,300,000
Retained earnings $ 900,000

Dividends have been declared and paid for 2018.

The book value per share of common stock is:

a.$17.73.

b.$8.33.

c.$17.22.

d.$12.22.

2. The current portion of long-term debt should be reported:

a.In the long-term liabilities section of the balance sheet, along with the other long-term debt.

b.Separately in the long-term liabilities section of the balance sheet.

c.In a separate section of the balance sheet, between long-term liabilities and shareholders' equity.

d. In the current liabilities section of the balance sheet.

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