Required information [The following information applies to the questions displayed below.] Raphael Corporation's balance sheet shows the following stockholders' equity section. $ 70,000 Preferred stock-5% cumulative, $_ par value, 1,000 shares authorized, issued, and outstanding Common stock-$_par value, 4,000 shares authorized, issued, and outstanding Retained earnings Total stockholders' equity 160,000 350,000 $ 580,000 3. If two years' preferred dividends are in arrears at the current date, what is the book value per share of common stock? Choose Numerator: Stockholders' equity applicable to common shares Book Value Per Common Share | Choose Denominator: I Number of common shares outstanding = Book Value Per Common Share Book value per common share 4,000 = IIIIIII 1