2. Square raised their first round of venture capital by issuing Series A preferred stock, which is convertible into common stock on a 1-1 basis and has a non-participating 1x conventional liquidation preference. Before the offering, they had 7 million shares of common stock and they issued 3 million shares of Series A preferred for $1 per share. One year later, Square needs to raise more capital, so they now plan to issue 5 million shares of Series B preferred stock, which is convertible into common 1-1 and has a non-participating 1x conventional liquidation preference. After meeting with several VC firms in the Valley, they agree on a price of $10 per share. [A] Complete the series B cap table below: Common Second Round Shares Issued (millions) After Conversion Price Percentage of Common Series A convertible preferred Series B convertible preferred Common shares Total shares [B] Determine the pre- and post-money valuation for this round. [C] If Square is sold one year later to Apple, Inc. for $100 million, how much would each shareholder (A, B, and common) elect to receive?