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Given below are comparative statements of financial position (balance sheets) and an income statement for...

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Accounting

  1. Given below are comparative statements of financial position (balance sheets) and an income statement for Namekagon Corporation.
Namekagon Corporation
Balance Sheets Year 2
December 31 January 1
Cash $ 15,600 $ 15,600
Accounts receivable 46,800 37,700
Inventory 32,500 36,400
Equipment (net) 57,200 66,300
Total $ 152,100 $ 156,000
Accounts payable 26,000 28,600
Dividends payable 7,800 3,900
Long-term note payable 14,300 14,300
Capital stock, $5 par 72,800 72,800
Retained earnings 31,200 36,400
Total $ 152,100 $ 156,000
Namekagon Corporation
Income Statement
For the year ended Year 2
Sales $ 228,800
Cost of goods sold 137,540
Gross profit on sales $ 91,260
Operating expenses 75,868
Operating income $ 15,392
Interest expense 9,100
Net income $ 6,292

Namekagon Corporation's book value per share for Year 2 is:

  1. $21.16.
  2. $7.32.
  3. $3.14.
  4. $10.58.

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