On December 31, 2014, Southgate Inc. showed the following (All of the shares had been issued early in 2013): Southgate Inc. Equity Section of Balance Sheet December 31, 2014 Contributed capital Preferred shares, $5.00 unlimited shares authorized 20,000 shares issued and outstanding Common shares, unlimited shares authorized 60,000 shares issued and outstanding Total contributed capital Retained earnings Total equity 240,000 180,000 420,000 310,000 730,000 a) Calculate book value per common share and preferred share at December 31, 2014, assuming no dividends were declared for the years ended December 31, 2013 and 2014, and that the preferred shares are: Preferred shares are non-cumulative Preferred shares are cumulative Book value per common share Book value per preferred share Book value per common share Book value per preferred share b) Calculate book value per common share and preferred share at December 31, 2014, assuming total dividends of $120,000 were declared and paid in each of the years ended December 31, 2013 and 2014, and that the preferred shares are: Preferred shares are cumulative Preferred shares are non-cumulative Book value per common share Baok value per common share Book value per preferred share Book value per preferred share