Square raised their first round of venture capital by issuing Series A preferred stock, which is

convertible into common stock on a $1-1$ basis and has a non$-$participating $1$ conventional

liquidation preference. Before the offering, they had $7$ million shares of common stock and they

issued $3$ million shares of Series A preferred for $$1$ per share.

One year later, Square needs to raise more capital, so they now plan to issue $5$ million shares of

Series B preferred stock, which is convertible into common $1-1$ and has a non$-$participating $1x$

conventional liquidation preference. After meeting with several VC firms in the Valley, they

agree on a price of $$10$ per share.

$[$A$]$ Complete the series B cap table below:

$[$B$]$ Determine the pre$-$ and post$-$money valuation for this round.

$[$C$]$ If Square is sold one year later to Apple, Inc. for $$100$ million, how much would each

shareholder $($A$,$ B$,$ and common$)$ elect to receive?