Chapter $17$ Assignment $(8$Qs$)$ i

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$\backslash$table$[[,\backslash$table$[[$Western Grass Inc.$],[$Equity Section of Balance Sheet$],[$December $31,2023]],],[,\backslash$table$[[$Contributed capital:$],[$Preferred shares, $$5$ cumulative, $20,000$ shares authorized, issued and$],[$outstanding$]],$$$280,000],[,\backslash$table$[[$Common shares, $100,000$ shares authorized; $65,000$ shares issued and$],[$outstanding$]],520,000],[10,$Total contributed capital,$$800,000],[$points$,$Retained earnings,$610,000],[,$Total equity,$$1,410,000]]$

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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$.$