The following equity accounts are in the ledger of Crivello Corporation at December 31, 2014.

Share Capital—Ordinary ($3 stated value)                                               $2,400,000
Share Premium—Treasury                                                                              10,000
Share Premium—Ordinary                                                                         1,600,000
Share Premium—Preference                                                                       220,000
Share Capital—Preference (8%, $50 par, non-cumulative)                         800,000
Retained Earnings                                                                                    1,448,000
Treasury Shares—Ordinary (10,000 shares)                                                75,000

Instructions
(a) Prepare an equity section at December 31, 2014.
(b) Compute the book value per share of the ordinary shares, assuming the preference shares have a call price of $60 per share.