Current Attempt in Progress The stockholders' equity section of Indigo Corporation's balance sheet at December 31 is presented here. INDIGO CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 11,800 shares authorized, 7.100 shares issued and outstanding $710,000 Common stock, no par, 725,000 shares authorized, 555,000 shares issued 1,665,000 Total paid-in capital 2,375,000 Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (7,000 common shares) Total stockholders' equity 1.151,000 3,526,000 37,300 $3,488,700 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 $ (c) What is the par value of the preferred stock? The par value of the preferred stock $ per share per share (d) If the annual dividend on preferred stock is $49,700, what is the dividend rate on preferred stock? The dividend rate % (e) If dividends of $71,400 were in arrears on preferred stock, what would be the balance reported for retained earnings? The Retained Earnings balance $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer