Required information If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $$21,250,$

compute the total amount paid to $($a$)$ preferred shareholders and $($b$)$ common shareholders.

a$.$ Total amount paid to the preferred shareholders

b$.$ Total amount paid to the common shareholders

$[$The following information applies to the questions displayed below.$]$

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

Required:

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