value: 1.30 points 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, $15 par value, $20 call price 10,000 shares issued and outstanding Common stock-$10 par value, 45,000 shares issued and outstanding Retained earnings $ 150,000 450,000 267,500 Total stockholders' equity $ 867,500 Determine the book value per share of the preferred and common stock under two separate situations 1. No preferred dividends are in arrears Answer is complete but not entirely correct. Book Value Per Preferred Share Book Value Per Preferred Share Choose Numerator: Choose Denominator: Stockholders' equity applicable to preferred shares Number of preferred shares outstandin Book value per preferred share 150,000 x 10,000 15.00 Book Value Per Common Share Book Value Per Common Share Choose Numerator: Choose Denominator: Stockholders' equity applicable to common shares Number of common shares outstandin Book value per common share 717,500 X 450,000 $ 1.59