Early in 2010, Samsung was formed with authorization to issue 10,000 shares of 2 par value common stock and 20,000 shares of 80 par value cumulative preferred stock.

During 2010, all the preferred stock was issued at par, and 6,000 shares of common stock were sold for 20 per share. The preferred stock is entitled to a dividend equal to 12 percent of its par value before any dividends are paid on the common stock.

During its first five years of business (2010 through 2014), the company earned income totaling ,3,000,000 and paid dividends of 0.5s per share each year on the common stock outstanding.

On January 1, 2012, the company purchased 1,000 shares of its own common stock in the open market for 40,000. On January 2, 2014, it reissued 600 shares of this treasury stock for 30,000. The remaining 400 shares were still held in treasury at December 31, 2014.

1.- Prepare the stockholders equity section of the balance sheet at December 31, 2014. Include a supporting schedule showing (1) your computation of any paid-in capital on treasury stock and (2) retained earnings at the balance sheet date.

2.-As of December 31, 2014, compute the companys book value per share of common stock.