Problem 13-5A (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-5% cumulative, $ par value, 1,000 shares authorized, issued, and outstanding Common stock-$ Retained earnings par value, 4,000 shares authorized, issued, and outstanding Total stockholders' equity $ 55,000 100,000 320,000 $ 475,000 Problem 13-5A (Algo) Part 1 Required: 1. Determine the par values of the corporation's preferred stock and its common stock. Corporation's preferred stock Corporation's common stock Par Value