The Stockholders' Equity Section of a Corporation's Balance Sheet Follows

Essay

The stockholders' equity section of a corporation's balance sheet follows:

(1)Assuming that the preferred stock is not callable and no dividends are in arrears,compute the book values per preferred share and per common share.
(2)Assuming that the preferred stock has a call price of $30 per share and there is one year of cumulative preferred dividends is in arrears,compute the book values per preferred share and per common share.