Cloud CoProvided the Following Information from Its 2017 Financial Statements $\begin{array}{lr}\text { Total assets } & \$ 655,000 \\\text { Total liabilities } & 225,000\end{array}$

Cloud Co.provided the following information from its 2017 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:
$\begin{array}{llr} \text {Preferred stock, \( 10 \%, \$ 2 \) par value, 10,000 authorized, 8,000 issued and } &\\ \text {outstanding, \( \$ 5 \) liquidation value } &\$ 16,000 \\ \text {Common stock, \( \$ 4 \) par value, 20,000 shares authorized, 10,000 issued } &\\ \text { and outstanding } &40,000 \end{array}$

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 $\mathrm { Co }$ .