Examine the following book-value bal. sheet for University Products, Inc. The preferred stock currently sells for $12.00 per share and the common stock for $16.00 per share. There are 3 million common shares outstanding. BOOK VALUE BLANCE SHEET ASSETS LIABILITIES AND NET WORTH Cash and short-term securities is $1.0 Bonds, coupon = 7%, paid annually $10.0 (maturity = 10 years, current yield to maturity = 8% Accounts receivables 5.0 Preferred stock Inventories 9.0 Common stock 0.3 Plant and equipment 20.0 Additional paid-in stockholder equity 11.7 Retained earnings 11.0 Total $35.0 Total 35.0