11 Writing (LO 2. 4) The stockholders' equity section of Haley Corporation at December 31 is as follows. Haley Corporation Balance Sheet (partial) Paid-in capital $ 300,000 Preferred stock, cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding Common stock, ng par, 750,000 shares authorized, 600,000 shares issued 1,200,000 Total paid-in capital 1,500,000 Retained earnings 1,858,000 3,358,000 Total paid-in capital and retained earnings Less: Treasury stock (10,000 common shares) 64,000 Total stockholders' equity $3,294,000 Instructions From a review of the stockholders' equity section, as chief accountant, write a memo to the Total paid-in capital PLINTER VERSION BACK NEXT 1,500,000 Retained earnings 1,858,000 Total paid-in capital and retained earnings 3,358,000 Less: Treasury stock (10,000 common shares) Total stockholders' equity 64,000 $3,294,000 Instructions From a review of the stockholders' equity section, as chief accountant, write a memo to the president of the company answering the following questions. a. How many shares of common stock are outstanding? b. Assuming there is a stated value, what is the stated value of the common stock? c. What is the par value of the preferred stock? d. If the annual dividend on preferred stock is $30,000, what is the dividend rate on preferred stock? e. If dividends of $60,000 were in arrears on preferred stock, what would be the balance in Retained Earnings