The equity section of Cyril Corporations balance sheet shows the following: Preferred stock5% cumulative, $20 par value, 10,000 shares issued and outstanding $ 200,000 Common stock$10 par value, 30,000 shares issued and outstanding 300,000 Retained earnings 267,500 Total stockholders equity $ 767,500 This year's dividends on preferred stock have been paid. Determine the book value per share of common stock under two separate situations.

1. No preferred dividends are in arrears.

Book Value per Common Share
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2. Three years of preferred dividends are in arrears.

Book Value per Common Share
Choose Numerator:	/	Choose Denominator:	=	Book Value per Common Share
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