Raphael Corporations balance sheet shows the following stockholders equity section. ...
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Accounting
Raphael Corporations balance sheet shows the following stockholders equity section.
| Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding | $ | 70,000 | |
| Common stock$___ par value, 4,000 shares authorized, issued, and outstanding | 80,000 | ||
| Retained earnings | 350,000 | ||
| Total stockholders' equity | $ | 500,000 | |
3. If two years preferred dividends are in arrears at the current date, what is the book value per share of common stock?
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