The balance sheet of Phalanx Sports Corp. reported the following Cumulative preferred shares, 500 shares issued and outstanding, liquidation value $24,000 $ 24,000 Common shares, 33,000 shares issued and outstanding 187,500 Assume that Phalanx Sports has paid preferred dividends for the current year and all prior years (no dividends in arrears) Retained earnings was $145,000 Required Compute the book value per share of the preferred shares and the common shares (Round your answers to the nearest cent.) Book value per share of preferred shares Book value per share of common shares