Reference no: EM13899366

The equity section of Cyril Corporations balance sheet shows the following: Preferred stock 6% cumulative, $ 25 par value, $ 30 call price, 10,000 shares issued and outstanding . . . . . . . . . . . . . . $ 250,000 
Common stock  $ 10 par value, 80,000 shares issued and outstanding . . . . . . . . . . . . . . . . . . . 800,000 
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 535,000 
Total stockholders equity . . . . . . . . . . . . . . . . . . . . . . . . $ 1,585,000

Determine the book value per share of the preferred and common stock under two separate situations.
1. No preferred dividends are in arrears.
2. Three years of preferred dividends are in arrears.