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Required information [The following information applies to the questions displayed below.] Raphael Corporation's balance sheet shows the following stockholders' equity section. Preferred atock-5t cunulative, $ par value, 1,000 sharen authorized, issued, and outstanding cormon stock-s. Retained earnings par value, 4,000 ahares authorized, issued, and outstanding Total stockholdera' equity Required: 1. Determine the par values of the corporation's preferred stock and its common stock