Rio Corp.'s current balance sheet reports the following stockholders' equity: 5% cumulative preference shares, P100 par value 250,000 Ordinary share, par value P3.50 per share 350,000 Share premium on ordinary shares 125,000 Retained earnings 300,000 Dividends in arrears on the preference share amount to P25,000. If Rio were to be liquidated, the preference stockholders would receive par value plus a premium of P50,000. The book value per ordinary share is a. 7.75 b. 7.50 c. 7.25 d. 7.00Berlin, Inc. has an authorized capital of 1,000, P100 par, 8% cumulative preference shares and 100,000, P10 par, ordinary shares. The equity account balances at December 31, 20x1, are as follows: Cumulative preference share 50,000 Ordinary share 90,000 Share premium 9,000 Retained earnings 13,000 Treasury shares, ordinary - 100 shares at cost (2,000) Total 160,000 Dividends on preferred stock are in arrears for the year 20x1. The book value per ordinary share at December 31, 20x1, should be a. 11.78 b. 11.91 C. 12.22 d. 12.36Professor Corporation's stockholders' equity at December 31, 2008 was as follows: 6% noncumulative preference shares, P100 par (liquidation value P105 per share) 1,000,000 Ordinary shares, P100 par 3,000,000 Retained earnings 950,000 Preferred dividends have been paid up to December 31, 2008. At December 31, 2008, Professor's book value per ordinary share was a.131.70 b. 130.00 c.129.70 d.128.00