The following equity accounts are in the ledger of Westin SE at December 31, 2017.
Share Capital-Ordinary (€10 stated value)..................€1,500,000
Share Premium-Treasury..............................................6,000
Share Premium-Ordinary..........................................690,000
Share Premium-Preference..........................................42,400
Share Capital-Preference (8%, €100 par, non-cumulative) ...360,000
Retained Earnings.....................................................776,000
Treasury Shares-Ordinary (7,000 shares) ........................92,000
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 €110 per share.