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Book Value for Preferred and Common Stock The stockholders' equity section of Plaka Corporation's balance sheet...
Book Value for Preferred and Common Stock The stockholders' equity section of Plaka Corporation's balance sheet follows. 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 Assuming one year's dividends in arrears, determine the book value per share for both the preferred and common stock. If required, round your answers to the nearest cent. Preferred Stock Book Value per Share: $ per share Common Stock Book Value per Share: $ per share
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