A corporate entity has both preferred and common classes of shares. How is the book value of

Question:

A corporate entity has both preferred and common classes of shares. How is the book value of common shares calculated in this case? What is meant by the value of preferred shares?
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....