Spiral Corporation's December 31, balance sheet shows the following: 8% preferred stock,
$10 par value, cumulative,
40,000 shares authorized; 18,000 shares issued, $180,000 Common stock, $1 par value,
4,000,000 shares authorized; 2,500,000 shares issued,
2,460,000 shares outstanding,
$2,500,000 Paid-in capital in excess of par value - preferred stock, $180,000 Paid-in capital in excess of par value - common stock, $52,000,000 Retained earnings,
$24,000,000 Treasury stock (40,000 shares) - $1,250,000
The company's total stockholders' equity is:
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