Exercise 11-07 The stockholders' equity section of Whispering Winds Corp.'s balance sheet at December 31 is presented here. WHISPERING WINDS CORP. Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 11,200 shares authorized, 6,700 shares issued and outstanding $ 683,400 Common stock, no par, 739,000 shares authorized, 569,000 shares issued 1,707,000 Total paid-in capital 2,390,400 Retained earnings 1,155,000 Total paid-in capital and retained earnings 3,545,400 Less: Treasury stock (6,100 common shares) 32,500 Total stockholders' equity $3,512,900 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? The par value of the preferred stock per share (d) If the anual dividend on preferred stock is $47,838, what is the dividend rate on preferred stock? The dividend rate (e) If dividends of $78,300 were in arrears on preferred stock, what would be the balance reported for retained earnings? The Retained Earnings balance Click if Vou would like to Show Work for this question: Open Show Work