Please refer to the equity section shown below:
$\begin{array}{|l|l|}
\hline\text { Preferred stock, } \$ 100 \text { par, } 4 \% \text { non-cumulative } & \$ 20,000 \
\hline 1,000 \text { shares authorized, } 200 \text { shares outstanding } & \
\hline \text { Common stock, } \$ 0.01 \text { par } & 400\\hline 1,000,000 \text { shares authorized, } 40,000 \text { shares outstanding } & \
\hline \text { Paid-in capital in exces of par } & 359,600 \
\hline \text { Retained earnings } & 820,000 \
\hline \text { Total stockholders' equity } & \$ 1,200,000\\hline
\end{array}$
Assume the preferred shares have no stated liquidation value. The preferred shares are non-cumulative, so there are no dividends in arrears.
Please calculate the book value per share of common stock.

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The Answer of Please refer to the equity section shown below:
$\begin{array}{|l|l|}
\hline\text { Preferred stock, } \$ 100 \text { par, } 4 \% \text { non-cumulative } & \$ 20,000 \
\hline 1,000 \text { shares authorized, } 200 \text { shares outstanding } & \
\hline \text { Common stock, } \$ 0.01 \text { par } & 400\\hline 1,000,000 \text { shares authorized, } 40,000 \text { shares outstanding } & \
\hline \text { Paid-in capital in exces of par } & 359,600 \
\hline \text { Retained earnings } & 820,000 \
\hline \text { Total stockholders' equity } & \$ 1,200,000\\hline
\end{array}$
Assume the preferred shares have no stated liquidation value. The preferred shares are non-cumulative, so there are no dividends in arrears.
Please calculate the book value per share of common stock.

Please Refer to the Equity Section Shown Below Assume the Preferred Shares Have No Stated Liquidation Value