CES Question 7 The stockholders' equity section of Flounder Corp.'s balance sheet at December 31 is presented here. FLOUNDER CORP. Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative 9,333 shares authorized, 5,600 shares issued and outstanding $582,400 Common stock, no par, 761,638 shares authorized, 589,000 shares issued 2,945,000 Total paid-in capital 3,527,400 Retained earnings 1,155,000 Total paid-in capital and retained earnings 4,682,400 Less: Treasury stock (6,700 common shares) 35,733 Total stockholders' equity $4,646,667 sly From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? Common stock outstanding shares (b) Assuming there is a stated value, what is the stated value of the common stock? The stated value of the common stock $ per share (c) What is the par value of the preferred stock? (c) What is the par value of the preferred stock? The par value of the preferred stock $ per share udy (d) If the annual dividend on preferred stock is $52,416, what is the dividend rate on preferred stock? The dividend rate (e) If dividends of $72,600 were in arrears on preferred stock, what would be the balance reported for retained earnings? The Retained Earnings balance Click if you would like to Show Work for this questions Open Show Work