Edwards Company has the following partially completed stockholders' equity section of the 2021 balance sheet. *Stockholders' Equity' 7% Preferred Stock, 8,000 shares issued Common Stock, 59,000 shares issued Additional Paid-In Capital Retained Earnings Treasury Stock, 5,000 shares at cost Total Stockholders' Equity Required: (a) Calculate the par value per share for preferred stock. (b) Calculate the number of outstanding shares of common stock. Par value per share for preferred stock Number of outstanding shares of common stock $1,160,000 1,534,000 2,510,000 1,360,000 -210,000 $6,354,000