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 one year of cumulative preferred dividends is in arrears, compute the book values per preferred share and per common share.