The equity section of Cyril Corporation's balance sheet shows the following Preferred stock-6% cumulative, $25 par value, 10,000 shares issued and outstanding Common stock-58 par value, 180,000 shares issued and outstanding Retained carnings Total stockholders' equity $ 250,000 Bee, 800 535,000 $1,585,800 Sook Determine the book value per shore of common stock under two separate situations 1. No preferred dividends are in arrears at the current date 2. Three years of preferred dividends are in arrears at the current date