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Required information

Problem $13-5$A $($Algo$)$ Computing par values and dividend allocations LO C$2$

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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$-$ $ par value, $4,000$ shares authorized, issued, and outstanding Retained earnings

Total stockholders' equity

Problem $13-5$A $($Algo$)$ Part $1$

Required:

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

$\backslash$table$[[$Corporation$\text{'}$s preferred stock,Par Value$],[$Corporation$\text{'}$s common stock,$]]$