Table 13-4
the Shareholders' Equity Section of the Balance Sheet

Table 13-4
The shareholders' equity section of the balance sheet of Cresco Corporation follows:
$$\begin{array} { | l | r | } \hline \text { Contributed capital: } & \\\hline \text { Preferred shares, cumulative, } \$ 3.50,4,000 \text { shares outstanding, } & \\\hline \text { liquidation value } \$ 56 \text { per share } & \$ 210,000 \\\hline \text { Common shares, } 20,000 \text { shares outstanding } & 397,500 \\\hline \text { Retained earnings } & 138,250 \\\hline\end{array}$$ Note: There are two years of dividends in arrears on the preferred shares, including the current year.
-Refer to Table 13-4.The book value per share for common shares is:

A) $19.88
B) $24.69
C) $26.79
D) $25.39