Here's why:

* Iron (Fe) typically has two common oxidation states: +2 (ferrous) and +3 (ferric).

* Oxygen (O) typically has an oxidation state of -2.

To form a neutral compound, the positive and negative charges must balance. The most common iron oxide is Fe2O3, which is iron(III) oxide or ferric oxide.

Let me know if you have any other questions!