Return to ques Exercise 11-16 Book value per share LO A4 The equity section of Cyril Corporation's balance sheet shows the following. Preferred stock-6% cumulative, $25 par value, $ 250,000 800,000 535,000 $1,585,000 10,000 shares issued and outstanding Common stock-$8 par value, 100, 000 shares issued and outstanding Retained earnings Total stockholders' equity This year's dividends on preferred stock have been paid. Determine the book value per share of common stock under two separate situations. 1. No preferred dividends are in arrears. 2. Three years of preferred dividends are in arrears