Raphael Corporations balance sheet shows the following stockholders equity section. Required 1. Determine the par values of

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Raphael Corporation’s balance sheet shows the following stockholders’ equity section.


Required

1. Determine the par values of the corporation’s preferred stock and its common stock.

2. If two years’ preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $11,500, compute the total amount paid to 

(a) Preferred shareholders and 

(b) Common shareholders.

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