PLEASE EXPLAIN

Preferred stock-68 cumulative, ?25 par value, ? 250,000 800,000 535,000 $1,585,000 10,000 shares issued and outstanding Common stock-$8 par value, 100,000 shares issued and outstanding Retained earnings Total stockholders' equity This year's dividends on preferred stock have been paid. Determine the book value per share of common stock under two separate situations 1. No preferred dividends are in arrears 2. Three years of preferred dividends are in arrears. Answer is not complete. Complete this question by entering your answers in the tabs below Required1 Required 2 Determine the book value per share of the preferred and common stock for three years of preferred dividends are in arrears. lue Choose Numerator: Choose Denominator Book Value per Common Share Stockholders' equity applicable to common shares Number of common shares outstanding Bookvalue per common share