Cloud CoProvided the Following Information from Its 2016 Financial Statements:
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Cloud Co.provided the following information from its 2016 financial statements:
​ $\begin{array}{lr}\text { Total Assets } & \$ 655,000 \\\text { Total Liabilities } & 225,000\end{array}$
In addition, the stockholders' equity section of the balance sheet showed:
Preferred stock, $10 \%, \$ 2$ par value, 10,000 authorized, 8,000 issued and outstanding, $\$ 5$ liquidation value $\quad \$ 16,000$
Common stock, $4 par value, 20,000 shares authorized, 10,000 issued and outstanding $\quad 40,000$

The common stock had a year-end market price of $\$ 24$ .
A) Calculate the book value per common share at year-end.
B) Indicate the usefulness of this ratio for Cloud Co.. ​