Question: Please help explain how I get arrival to the answer. At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders equity of $4,900.000.

Please help explain how I get arrival to the answer.

At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders equity of $4,900.000. On FY 2018 year end, Somerset Corporation had Common Stock account of $1,900.000 of 310 par value common stock and Preferred Stock account of $200.000 of $100 par value. There was no treasury stock. The preferred stock was noncumulative and had a call price of $101. Use this information to determine the book value per share of Common Stock as of end of the FY 2018: (Round Your answer to the nearest pennull Your

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