Western Grass Inc. Equity Section of Balance Sheet December 31, 2020 Contributed capitali Preferred shares, $6 cumulative, 5,000 shares authorized, issued and outstanding Common shares, 100,000 shares authorized; 85,000 shares issued and outstanding Total contributed capital Retained earnings Total equity $ 63,000 807,500 $ 870,500 540,000 $1,410,500 Required: Using the information provided, calculate book value per common share assuming (Round the final answers to 2 decimal places.) a. There are no dividends in arrears. b. There are three years of dividends in arrears. Book Value of Common Shares a. b