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 2. If no dividends are in arrears at the current date, what is the book value per share of common stock? & Answer is complete but not entirely correct. Book Value Per Common Share Choose Numerator: Choose Denominator: Stockholders' equity applicable to preferred shares / Number of preferred shares outstanding 77,000 / 1,000 X = = Book Value Per Common Share Book value per common share 77.00