Midnight Distribution Corporation 's balance sheet reported the following information at December 31, 2016 Preferred shares, $3, cumulative, 11,000 shares issued, liquidation value $55 per share $ 605,000 Common shares, 75,000 shares issued 2,000,000 Total contributed capital 2,605,000 Retained ear...

Book value per preferred share Liquidation value Dividends in arre ...

Midnight Distribution Corporation's balance sheet reported the following information at December 31, 2016: Preferred shares, $3, cumulative,

Question:

Midnight Corporation's reported the following information at December 31, 2016:
Preferred shares, $3, cumulative, ................................ 11,000
shares issued, value $55 per share ................. $ 605,000
Common shares, 75,000 shares issued ......................... 2,000,000
Total contributed capital ......................................... 2,605,000
Retained earnings ................................................ 1,950,000
Total shareholders' equity ...................................... $4,555,000
Assuming there are two years' dividends in arrears (including 2016), determine the book value per share of both preferred and common shares.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most... Liquidation
Liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due....