Q11: Presented below is the information necessary to compute the net assets (stockholders' equity) and book value per share of common stock for Arora Advertising, Inc.: 8% cumulative preferred stock,...

Extracted text: Q11: Presented below is the information necessary to compute the net assets (stockholders' equity) and book value per share of common stock for Arora Advertising, Inc.: 8% cumulative preferred stock, $100 par (callable at $110) $300,000 Common stock, $5 par, authorized 100,000 shares 450,000 Additional paid-in capital 679,200 Deficit 130,200 Dividends in arrears on preferred stock, 1 full year 24,000 a) Compute the amount of net assets (stockholders' equity). b) Compute the book value per share of common stock.