Determining Book Value Per Share
Shown Below Is Information Relating

Determining book value per share
Shown below is information relating to the stockholders' equity of Churchill, Inc.:
From the above information, compute the following:
(a) Number of shares of preferred stock issued and outstanding
(b) Average issue price per share of common stock
(c) Total paid-in capital
(d) Total stockholders' equity
(e) Book value per share of common stock
$$\begin{array} { | l | l | } \hline 6 \% \text { cumulative preferred stock, } \$ 100 \text { par } & \$ 1,200,000 \\\hline \text { Common stock, } \$ 10 \text { par } 1,000,000 \text { shares authorized } & \$ 3,000,000 \\\hline \text { Additional paid-in capital; common stock } & \$ 6,000,000 \\\hline \text { Deficit (negative retained earnings) } & \$1,200,000 \\\hline \text { Dividends in arrears on preferred stock, 1 full year } & ? \\\hline\end{array}$$