Symons Corporation has provided the following financial data:Balance SheetDecember 31, Year 2 and Year 1AssetsYear 2Year 1Current assets: Cash$225,000 $160,000 Accounts receivable, net 191,000 180,000 Inventory 96,000 110,000 Prepaid expenses 91,000 80,000 Total current assets 603,000 530,000 Plant and equipment, net 810,000 840,000 Total assets$1,413,000 $1,370,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$226,000 $190,000 Accrued liabilities 66,000 70,000 Notes payable, short term 54,000 50,000 Total current liabilities 346,000 310,000 Bonds payable 170,000 170,000 Total liabilities 516,000 480,000 Stockholders' equity: Common stock, $5 par
value 250,000 250,000 Additional paid-in capital 70,000 70,000 Retained earnings 577,000 570,000 Total stockholders' equity 897,000 890,000 Total liabilities & stockholders' equity$1,413,000 $1,370,000 Income StatementFor the Year Ended December 31Sales (all on account)$1,260,000 Cost of goods sold 760,000 Gross margin 500,000 Operating expenses 473,429 Net operating income 26,571 Interest expense 13,000 Net income before taxes 13,571 Income taxes (30%) 4,071 Net income$9,500 Dividends on common stock during Year 2 totaled $2,500. The market price of common stock at the end of Year 2 was $2.01 per share.The company's book value per share at the end of Year 2 is closest to:
A. $0.19 per share
B. $11.54 per share
C. $17.94 per share
D. $28.26 per share
Answer: C
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