The following stockholders’ equity accounts arranged alphabetically are in the section; compute book value _ ledger of Crivello Corporation at December 31, 2014.

per share. Common Stock ($3 stated value) $2,400,000

(LO 7, 9) Paid-in Capital from Treasury Stock 10,000 Paid-in Capital in Excess of Stated Value—Common Stock 1,600,000 Paid-in Capital in Excess of Par—Preferred Stock : 220,000 Preferred Stock (8%, $50 par, noncumulative) 800,000 Retained Earnings 1,448,000 Treasury Stock—Common (10,000 shares) 75,000 Instructions

(a) Prepare a stockholders’ equity section at December 31, 2014.

Total stockholders’ equity

(b) Compute the book value per share of the common stock, assuming the preferred stock

$6,403,000 has a call price of $60 per share.