Lisa, Inc.

Statement of Financial Position

December 31, 2010

(in thousands)

                                                                        2010        2009

Assets   

Current assets:     

   Cash                                                                  $ 30      $ 25

   Trading securities                                                       20         15

   Accounts receivable (net)                                               45         30

   Inventories (at lower of cost of market)                                 60         50

   Prepaid items                                                           15         20

          Total Current Assets                                           $170       $140   

Long-term assets:   

  Long-term investments:     

    Available-for-sale investments                                        $ 25       $ 20

  Property, plant & equipment:      

    Land (at cost)                                                          75         75

    Building (net)                                                          80         90

    Equipment (net)                                                       95        100

  Intangible assets:     

     Patents (net)                                                          35        17

    Goodwill (net)                                                          20        13

          Total Long-Term Assets                                         $330      $315

          Total Assets                                                    $500       $455

Liabilities and Equity    

Current liabilities:      

  Notes payable                                                           $ 23       $ 12

  Accounts payable                                                         47         28

  Accrued interest                                                         $ 15       $ 15

          Total current liabilities                                           $ 85       $ 55

Long-term liabilities:      

  Long-term Notes payable 10% due 12/31/2012                         $ 10       $ 10

  Bonds payable 12% due 12/31/2015                                      15         15

          Total long-term debt                                             $ 25       $ 25

          Total liabilities                                                   $110       $ 80  

Shareholders' Equity       

  Preferred stock - 5% cumulative, $100 par, nonparticipating      

     authorized, issued and outstanding, 1,000 shares                    $100       $100

  Common stock - $10 par 20,000 shares authorized, 15,000      

     shares issued and outstanding                                        150        150

  Additional paid-in capital - common                                      75          75

  Retained earnings                                                        65          50

          Total Equity                                                    $390        $375

          Total Liabilities & Equity                                        $500        $455

Assuming that there are no preferred stock dividends in arrears, Lisa Inc.'s book value per share of common stock at December 31, 2010 was

A. $18.33.

B. $10.00.

C. $14.50.

D. $19.33.