for Problem 12-6 Compute total market value of common stockcompute book value of common and preferred stock (L.O. 6) Pra. for re. 2 The common stock of Lang Corporation is selling on a stock exchange for $105 per share. The stockholders' equity of the corporation at December 31, 2019, is as follows: Stockholders' equity: Paid-in capital: Preferred stock-6% cumulative, $120 par value, $120 liquidation value, 3,000 shares authorized, issued, and outstanding $ 360,000 Common stock-$72 par value, 30,000 shares authorized, issued and outstanding 2,160,000 Total paid-in capital $2,520,000 Retained earnings 354,000 Total stockholders' equity $2,874,000 Assume that in liquidation the preferred stock is entitled to par value plus cumulative unpaid dividends. 84 Reque a. What is the total market value of all of the corporation's common stock? b. If all dividends have been paid on the preferred stock as of December 31, 2019, what are the book values of the preferred stock and the common stock? c. If two years' dividends were due on the preferred stock as of December 31, 2019, what are the book values of the preferred stock and common stock