Question
Folsom Corporation's common stock is currently selling on a stock exchange at $183 per share, and its current balance sheet shows the following stockholders' equity
Folsom Corporation's common stock is currently selling on a stock exchange at $183 per share, and its current balance sheet shows the following stockholders' equity section. Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding $85,000 Common stock$___ par value, 4,000 shares authorized, issued, and outstanding 200,000 Retained earnings 350,000 Total stockholders' equity $635,000 If two years' preferred dividends are in arrears and the preferred stock is callable at $95 per share, what are the book values per share of the preferred stock and the common stock? Book value per share of the preferred stock$ Book value per share of the common stock $
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