8. Malen Arts, Inc., had earnings of $680,000 for the year. The company had 300,000 shares of common stock outstanding. In addition, the company had issued 10,000 shares of $50 par value preferred stock. The preferred stock has a dividend of $4 per share. There were no transactions in either common or preferred stock during the year. Determine the basic earnings per share of the common stock for Malen Arts, rounding to the nearest cent. Work Area Earnings per Share 9. The stockholders' equity section of Montel Company's balance sheet follows. $ 210,000 Preferred stock-5% cumulative, $10 par value, 21,000 shares authorized, issued and outstanding Common stock-$5 par value, 250,000 shares authorized, 160,000 shares issued and outstanding Retained earings Total stockholders' equity 800,000 756,000 $ 1,766,000 Determine the book value per share of the common stock, rounding to the nearest cent. Work Area Book Value per Share