Required information 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-5s cumalative, \$ par valuo, 1,000 shares authorized, issued, and outstanding Comnon stoek-\$_ par valoo, 4,000 sharoa authorized, losued, and outatanding Retained earnings Total stoekholders' equity $60,000120,000310,000$490,000 Problem 13-5A (Algo) Part 2 . If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $17,600, ompute the total amount paid to (a) preferred shareholders and (b) common shareholders