Part IV The stockholders' equity section from Beta Corporation's balance sheet shows the following: CAPITAL STOCK AND RETAINED EARNINGS Preferred stock, $100 par value, 6% cumulative and nonpartia- pating, issued and outstanding 2,500 shares Common stock, $10 par value, issued and outstanding 50,000 .$250,000 shares 500,000 Total contributed capital $750,000 Retained earnings Total stockholders' equity $980,000 1. If there are no dividends in arrears, the book value of the corporation's preferred stock is per sshare and the book value of its common stock is sper share. If a total of two years' dividends are in arrears on the preferred stock, the book value of the preferred stock is spar 2. -and the book value of the common stock is Spers share Definitions: totl Book Value preferred Par Value plus dividends in arrears+ Peju Outstanding shares Total Book Value Common Par Value plus Retained Earnings Outstanding Shares What has happened to the book value of Prefeered stock with the cumulative feature between question one and question 2 above