Book value per share

BB, Inc. shareholders' equity section of the statement of financial position is as follows:

5% Cumulative Preference Shares, P1,000 par, 5,000 shares authorized, 1,000 shares issued and outstanding-----------P 1,000,000

Ordinary Shares, P100par, 20,000 shares authorized, 5,500 shares issued and outstanding -----------------------------------------------P550,000

Share premium - Preference ----------------------------------------------------------------------------------P400,000

Share premium - Ordinary -------------------------------------------------------------------------------------P700,000

Retained earnings ------------------------------------------------------------------------------------------------P900,000

The preference shares has a liquidation value of P1,200 and dividends are in arrears for three years. No declaration of dividends made for the current period.

Required:

1. Compute for the book value per Preference Shares.

2. Compute for the book value per Ordinary Shares.