Book value of each class of stock?
A corporation reports the following stockholder’s equity as of December 31, 2008
Preferred stock, $50 par, 10% cumulative, 100,000
shares authorized and 90,000 shares issued $4,500,000
Paid in capital in excess of par common 945,000
Common stock, $10 par, 200,000 shares authorized
and 200,000 shares issued 2,000,000
Paid in capital in excess of par common 800,000
Total paid in capital 8,245,000
Retained earnings 3,400,000
Total stockholder’s equity $11,645,000
No dividends were declared in 2007 and there were no dividends in arrears prior to 2007. What is the book value per share of each class of stock?
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