The Stockholders' Equity Section of a Corporation's Balance Sheet Follows

The stockholders' equity section of a corporation's balance sheet follows:
$\begin{array}{|l|c|}\hline \begin{array}{l}\text { Peferred stock, } \$ 25 \text { par value, } 6 \% \text {, cumulative, } 10,000 \text { shares } \\\text { authorized, } 5,000 \text { shares issued and outstanding } \ldots \ldots \ldots \ldots\end{array} & \$ 125,000 \\\hline \text { Paid-in capital in excess of par value, Preferred stock. } & 50,000 \\\hline \text {Common stock, \( \$ 5 \) par value, 50,000 shares authorized, }\\\text {20,000 shares issued and outstanding.}&100,000\\\hline \text { Paid-in capital in excess of par value, Common stock } & 40,000 \\\hline \text { Retained earnings } & 95,000 \\\hline\text { Total stockholders' equity .... }&\$410,000\\\hline\end{array}$

(1)Assuming that no dividends are in arrears,compute the book values per preferred share and per common share.
(2)Assuming that one year of cumulative preferred dividends is in arrears,compute the book values per preferred share and per common share.