The following equity accounts are in the ledger of Crivello SpA at December 31, 2017.

Share Capital-Ordinary (€3 stated value)............................€2,250,000

Share Premium-Treasury....................................................10,000

Share Premium-Ordinary................................................1,500,000

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) 68,000

Instructions

(a) Prepare an equity section at December 31, 2017.

(b) Compute the book value per share of the ordinary shares, assuming the preference shares have a call price of €60 per share.