Book value per share of common stock
Bronze Tint Trust has the following stockholders’ equity:
| Paid-in capital: | |
| Preferred stock, 5%, $10 par, 6,000 shares authorized, 4,500 shares issued | $ 45,000 |
| Common stock, $0.20 par, 1,200,000 shares authorized and issued | 240,000 |
| Paid-in capital in excess of par—common | 400,000 |
| Total paid-in capital | $ 685,000 |
| Retained earnings | 255,000 |
| Total stockholders’ equity | $ 940,000 |
Bronze Tint has not declared preferred dividends for five years (including the current year).
Requirement
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