The following stockholders’ equity accounts arranged alphabetically are in the ledger of Crivello Corporation at December 31, 2014.
Common Stock ($3 stated value) ................. $2,400,000
Paid-in Capital from Treasury Stock .............. 10,000
Paid-in Capital in Excess of Stated Value—Common Stock ...... 1,600,000
Paid-in Capital in Excess of Par—Preferred Stock .......... 220,000
Preferred Stock (8%, $50 par, noncumulative) .......... 800,000
Retained Earnings ...................... 1,448,000
Treasury Stock—Common (10,000 shares) ............ 75,000

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 $60 per share.