The following stockholders' equity accounts arranged alphabetically are in the ledger of Westin Corporation at December 31, 2019.
Common Stock ($10 stated value)..............................$1,500,000
Paid-in Capital from Treasury Stock...................................6,000
Paid-in Capital in Excess of Par-Preferred Stock.................42,400
Paid-in Capital in Excess of Stated Value-Common Stock...690,000
Preferred Stock (8%, $100 par, noncumulative)..................360,000
Retained Earnings.....................................................776,000
Treasury Stock-Common (7,000 shares)...........................92,000
Instructions
(a) Prepare a stockholders' equity section at December 31, 2019.
(b) Compute the book value per share of the common stock, assuming the preferred stock has a call price of $110 per share.