Problem 7: The statement of financial position of LST Corporation are as follows: LST Corporation Statement of Financial Position As of the year ended December 31, 2020 Cash P560,000 Accounts receivable, net 450,000 Inventory 1,200,000 Property, plant, and equipment, net 2,000,000 Intangible assets, net 1,350,000 Total assets P5,560,000 Accounts payable Common share capital, P6 par 12% cumulative preferred shares, P120 par Share premium - common shares Share premium - preferred shares Retained earnings Treasury shares - common shares, 10,000 shares Total liabilities and equity P112,000 2,400,000 720,000 864,000 72,000 1,500,000 (108,000) P5,560,000 The preferred shares have a liquidation value of P144 per share and dividends are in arrears for two years, inclusive of the current year 2020. Required: 1. Compute the book value per share of the preferred shares. 2. Compute the book value per share of the common shares