Current Attempt in Progress

At December $31,$ Blossom Corporation has total stockholders' equity of $$3,700,000.$ Included in this total are preferred stock $$1,000,000$ and paid$-$in capital in excess of par$-$preferred stock $$47,800.$ There are $20,000$ shares of $$50$ par value, $7\%$ cumulative preferred stock outstanding. At year$-$end, $200,000$ shares of common stock are outstanding.

Compute the book value per share of common stock under each of the following assumptions. $($Round answers to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

$($a$)$ There are no preferred dividends in arrears.

$($b$)$ Preferred dividends are one year in arrears.

$($a$)$

$($b$)$

Book value per share

$ $$ $

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