The following stockholders’ equity accounts arranged alphabetically are in the ledger of Westin Corporation at December 31, 2014.
Common Stock ($10 stated value) .............. $1,500,000
Paid-in Capital from Treasury Stock ............. 6,000
Paid-in Capital in Excess of Stated Value—Common Stock ... 690,000
Paid-in Capital in Excess of Par—Preferred Stock ........ 42,400
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, 2014.
(b) Compute the book value per share of the common stock, assuming the preferred stock has a call price of $110 per share.