The Bernard Company Provided the Following Information from Its Financial

The Bernard Company provided the following information from its financial records: $$\begin{array} { | l | r | l | r | } \hline \text { Net income } & \$ 250,000 & \text { Total stockhoklers' equity } & \$ 1,000,000 \\\hline \text { Common dividends } & \$ 15,000 & \text { Common shares outstanding, 12/31 } & 150,000 \\\hline \text { Preferred rights } & \$ 175,000 & & \\\hline\end{array}$$ What is the company's book value per share?

A) $0.50
B) $5.50
C) $6.67
D) $1.67

Correct Answer:

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