4 4 Part 1 of 21 points 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, $par value, 1,000 shares authorized, issued, and outstanding Common stock-$par value, 4,000 shares authorized, issued, and outstanding Retained earnings Total stockholders' equity Required: 1. Determine the par values of the corporation's preferred stock and its common stock. Answer is complete but not entirely correct. $ 50,000 80,000 150,000 $ 280,000 Par value Corporation's preferred stock $ 5,000 Corporation's common stock $ 5,000 5 Part 2 of 2 points 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, $par value, 1,000 shares authorized, issued, and outstanding Common stock-$par value, 4,000 shares authorized, issued, and outstanding Retained earnings Total stockholders' equity $ 50,000 80,000 150,000 $ 280,000 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. Answer is complete but not entirely correct. Total amount paid to the preferred shareholders 5.000 Total amount paid to the common shareholders S 5,000