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32 Required information The following information applies to the questions displayed below) Raphael Corporation's balance sheet shows the following stockholders' equity section Preferred stock-5% cumulative, 5 par value, 1,000 shares authorised, issued, and outstanding Common stocks par value, 4,000 shares authorited, issued, and outstanding Retained earnings Total stockholders' equity $50,000 30,000 150, $ 250,00 Required: 1. Determine the par values of the corporation's preferred stock and its common stock Par value ces Corporation's proferred stock Corporation's common stock Required information The following information applies to the questions displayed below) Raphael Corporation's balance sheet shows the following stockholders' equity section Preferred stock - cumulative, $_- par value, 1,000 shares authorized, Issued, and outstanding Connon stock par value. 4,900 shares authorized Issued, and outstanding Retained earnings Total stockholders' equity $ 50.000 N0.000 150,000 $ 210,000 2. If two years preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $11,500, compute the total amount paid to (a) preferred shareholders and (b) common shareholders Total amount paid to the preferred shareholders Total amount paid to the common shareholders