Heather Valley Company Has the Following Amounts in the Stockholders

Essay

Heather Valley Company has the following amounts in the Stockholders' Equity category of the balance sheet at December 31,2017:
$\begin{array}{lr}\text { Preferred stock } \$ 100 \text { par, } 8 \% \text {, noncumul ative (liquidation value of }&\$ 100,000\\\$ 120 \text { per share) } & \\\text { Paid-in capital?preferred } & 60,000 \\\text { Common stock, } \$ 5 \text { par } & 450,000 \\\text { Paid-in capital—common } & 50,000 \\\text { Retained earnings } & 225,000\end{array}$

Required
Determine the book value per share of the Heather Valley Company stock.