The following stockholders' equity accounts arranged alphabetically are in the ledger of Shirley Denson Corporation at December 31, 1996:

\section*{Instructions}

(a) Prepare a stockholders' equity section at December 31, 1996.

(b) Compute the book value per share of the common stock, assuming the preferred stock has a call price of \(\$ 60\) per share.

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Common Stock ($5 stated value) $2,500,000 Paid-in Capital from Treasury Stock 10,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,500,000 Paid-in Capital in Excess of Par Value-Preferred Stock 692,000 Preferred Stock (8%, $50 par, noncumulative) 800,000 Retained Earnings 1,958,000 Treasury Stock-Common (10,000 shares) 130,000