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From the Following,determine the Book Value Per Share for Preferred

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From the following,determine the book value per share for preferred and common stocks; no dividends are in arrears on the preferred stock.
 Stockholders’ Equity  Preferred Stock, 8% cumulative and $10 par value, $12 redemption value  5,000 shares issued and outstanding $50,000 Common Stock, $1 par value, 40,000 shares  issued and outstanding 40,000 Retained Earnings16,000Total Stockholders’ Equity $106,000\begin{array}{llcc} \text { Stockholders' Equity } & \\ \text { Preferred Stock, \( 8 \% \) cumulative and } &\\ \text {\( \$ 10 \) par value, \( \$ 12 \) redemption value } &\\ \text { 5,000 shares issued and outstanding } &\$50,000\\ \text { Common Stock, \$1 par value, 40,000 shares } &\\ \text { issued and outstanding } &40,000\\ \text { Retained Earnings} &16,000\\\\ \text {Total Stockholders' Equity } &\underline{\underline{\$106,000}}\\\end{array}

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Definitions:

Third-Party Check

A check that is written by one person to another but is cashed or deposited by a third party.

Paid In Full

A term indicating that a debt or obligation has been completely settled and no balance remains due.

Uncorrected

Refers to something that has not been amended, fixed, or rectified.

Single Line

A straight line that has no bends or curves.

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