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Problem 11-5A (Algo) Computing par values and dividend allocations LO C2 [The following information applies to the questions displayed below] Raphael Corporation's balance sheet shows the following stockholders' equity section. Preferred stock-5x cumulative, $ par value, 1,000 shares authorized, issued, and outstanding Retained earnings Total stockholders' equity Problem 11-5A (Algo) Part 1 Required: 1. Determine the par values of the corporation's preferred stock and its common stock Problem 11-5A (Algo) Computing par values and dividend allocations LO C2 [The following information applies to the questions displayed below] Raphael Corporation's balance sheet shows the following stockholders' equity section. Preferred stock- 5x cumulative, $ par value, 1,000 shares authorized, issued, and outstanding Common stock- $ par volue, 4,000 shares authorized, issued, and outstanding Retained earnings Total stockholders' equity roblem 11-5A (Algo) Part 2 If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $22,900, mpute the total amount paid to ( a) preferred shareholders and (b) common shareholders