During 2014, Desny Corporation reported after-tax net income of $3,640,000. During the year, the number of shares of stock outstanding remained constant at 9,660 of $100 par, 9 percent preferred stock and 395,000 shares of common stock. The company?s total stockholders? equity is $19,800,000 at December 31, 2014. Desny Corporation?s common stock was selling at $52 per share at the end of its fiscal year. All dividends for the year have been paid, including $4.50 per share to common stockholders.