Determine the book value per share for both preferred stock

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Reference no: EM13914214

The stockholders' equity section of Plaka Corporation's balance sheet follows. Assuming one year's dividend in arrears, determine the book value per share for both the preferred and the common stock. (Round to the nearest cent.)

Contributed capital:

Preferred stock, $100 par value, callable at $105 per share, 6 percent cumulative, 5,000 shares authorized, 100 shares issued and outstanding $10,000 Common stock, $5 par value, 50,000 shares authorized, 5,000 shares

issued, 4,500 shares outstanding	25,000
Additional paid-in capital	14,000
Total contributed capital	$49,000
Retained earnings	47,500
Total contributed capital and retained earnings	$96,500
Less treasury stock, common (500 shares at cost)	7,500
Total stockholders' equity	$89,000

Reference no: EM13914214

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