Refer to the 2017 balance sheet for Google in Appendix A. What is the par value per share of its preferred stock? Suggest a rationale for the amount of par value it assigned.

Data from Google's

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Google Inc. (Alphabet Inc.) CONSOLIDATED BALANCE SHEETS (In millions, except share and par value amounts which are reflected in thousands, and par value per share amounts) As of As of December 31, 2016 December 31, 2017 Assets Current assets 10,715 91,156 Cash and cash equivalents Marketable securities 12,918 73,415 101,871 Total cash, cash cquivalents, and marketable securities Accounts receivable, net of allowance of $467 and $674 Income taxes receivable, net ఒ6333 14,137 18,336 95 369 749 Imentory Other curre nt assets Total current assets 268 2.983 124,308 4,575 105,408 Non-marketable investments 5,878 383 7,813 680 Deferred income taxes 34,234 3,307 Property and equipment, net Intangible assets, net Goodwill Other non-curent assets 42,383 2,692 16,747 2,672 16,468 1,819 Total assets Liabilities and Stockholders' Equity 167,497 197,295 Current liabilities 2041 3,137 Accounts payable Accrued compensation and benefits Accrued expenses and other current liabilities 3,976 6,144 4,581 10,177 2,942 1,099 3,975 1,432 Accrued revenue share Dekred revenue Income taxes payable, net Total current liabilities 554 881 16,756 24,183 3,935 202 Long-kerm debt Dekrred evenue, non-current 3,969 340 Income tases payable, non-current Deferred income taxes 4,677 12,812 430 226 Other long-term liabilities Total liabilities 2,665 28,461 3,059 44,793 Commitments and contingencies Stockholders' equity: Comertible preferred stock, $O D0 1 par value per share, 100,000 shares authorized; no shares issued and outstanding Class A and Class B common stock, and Class C capital stock and additional paid-in capital, S0.001 par value per share: 15,000.000 shares authorized (Class A 9,000,000, Class B 3,000,000, Class C 3,000,000); 691,293 (Class A 296,992, Class B 47,437, Class C 346,864) and 694,783 (Class A 298,470, Class B 46,972, Class C 349,341) shares issued and outstanding Accumulated other comprehensive loss Retained carnings Total stockholders" equity Total liabilities and stockholders' equity 36,307 40,247 (2,402) (992) 105,131 113,247 139,036 152,502 197,295 167,497 "Google is part of Alphabet, but we loosely refer to Alphabet as "Google" because of its global familiarity and that Google provides 99% of Alphabet's S1 10,855 billion in revenues. Soe accompanying notes. Google Inc. (Alphabet Inc. CONSOLIDATED STATEMENTS OF INCOME (In millions) Year Ended December 31 2015 2016 90,272 2017 Revenues 74,989 110,855 Costs and expenses Cost of revenues Research and development Sakes and marketing General and administrative Europe an Commission fine Total costs and expenses Income from operations Other income (ex pense), net 28,164 35,138 45,583 12,282 13,948 16625 9,047 10,485 12,893 6,872 6,136 6,985 55,629 19.360 291 2,736 84,709 26,146 ఈ656 23,716 434 1,047 19.651 3,303 16348 24,150 4,672 27,193 14,531 Income before income taxes Provision for income taxes Net income 19,478 12,662 Less: Adjustment Payment to Class C capital stockholders Net income available to als 522 15,826 19,478 12,662 Google is part of Alphabet, but we loosely eer to Alphabet as "Google" because of its global familiarity and that Google provides 99% of Alphabet's $1 10,85S billion in revenues. See accompanying notes.