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Required information

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

$[$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$-$ $ $\_$ par value, $4,000$ shares authorized, issued, and outstanding

Retained earnings

Total stockholders' equity

$\backslash$table$[[$$$60,000$