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Raphael Corporations balance sheet shows the following stockholders equity section. ...

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Accounting

Raphael Corporations balance sheet shows the following stockholders equity section.

Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding $ 70,000
Common stock$___ par value, 4,000 shares authorized, issued, and outstanding 80,000
Retained earnings 350,000
Total stockholders' equity $ 500,000

3. If two years preferred dividends are in arrears at the current date, what is the book value per share of common stock?

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