Question
In: Finance
The common stock of KRJ Enterprises is currently selling for$70.25 per share. Last year the...
The common stock of KRJ Enterprises is currently selling for $70.25 per share. Last year the company reported total earnings of $315 million and there were 101 million shares of common stock outstanding. The common stock account is valued at $24 million, additional paid-in capital is $291 million, and retained earnings is $626 million. What was the company's book value per share? Present your answer to two decimal places. e.g. $20.00.
Solutions
Expert Solution
The value per share is computed as follows:
= (Common stock + Additional paid in capital + Retained earnings) / Number of shares outstanding
= ($ 24 million + $ 291 million + $ 626 million) / 101 million
= $ 941 million / 101 million
= $ 9.32
jeff jeffy answered 2 years agoRelated Solutions
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