Book and liquidation value The balance sheet for Gallinas Industries is as follows. Aswers Cash Marketable securities Accounts receivable Inventories Total current assets Land and buildings (net) Machinery and equipment Total fixed assets (net) Total assets Gallinas Industries Balance Sheet December 31 Liabilities and Stockholders' Equity $ 40,000 Accounts payable 60.000 Notes payable 120,000 Accrued wages 160.000 Total current liabilities $380.000 Long-term debt $150,000 Preferred stock 250,000 Common stock (10,000 shares) $400.000 Retained earings $780,000 Total liabilities and stockholders' equity 5100,000 30,000 30.000 $160.000 $180,000 $ 80,000 260,000 100.000 $780,000 Additional information with respect to the firm is available: (1) Preferred stock can be liquidated at book value. (2) Accounts receivable and inventories can be liquidated at 90% of book value. (3) The firm has 10,000 shares of common stock outstanding. (4) All interest and dividends are currently paid up. (5) Land and buildings can be liquidated at 130% of book value. (6) Machinery and equipment can be liquidated at 70% of book value. (7) Cash and marketable securities can be liquidated at book value. Given this information, answer the following: a. What is Gallinas Industries' book value per share? b. What is its liquidation value per share? c. Compare, contrast, and discuss the values found in parts a and b