Tokyo Corporation has an authorized capital of 10,000 shares of P100 par, 8% cumulative preferred stock and 20,000 shares of P100 par common stock. The equity account balances at December 31, 2008 are as follows: Cumulative preferred stock (Preference share) 500,000 Common stock (Ordinary share) 1,100,000 Additional paid in capital (Share premium) 200,000 Retained earnings 260,000 Treasury stock, common-1,000 shares at cost (150,000) Total shareholders' equity 1,910,000 Dividends on preferred stock are in arrears for 2007 and 2008. The book value of a share of common stock at December 31, 2008 should be a. 125 b. 191 C. 133 d. 141Denver Corp.'s shareholders' equity at December 31, 20x1, comprised the following: 6% cumulative preference share, P100 par; liquidating value P110 per share; authorized, issued, and outstanding 50,000 shares 5,000,000 Ordinary share, P5 par; 1,000,000 shares authorized; issued and outstanding 400,000 shares 2,000,000 Retained earnings 1,000,000 Dividends on preferred stock have been paid through 20x0 but have not been declared for 20x1. At December 31, 20x1, Denver's book value per ordinary share was a. 5.50 b. 6.25 C. 6.75 d. 7.50