Exercise 11-11 The stockholders' equity section of Haley Corporation at December 31 is as follows HALEY CORPORATION Balance Sheet(Partial) Paid-in capital Preferred stock, cumulative, 14,000 shares authorized, 8,400 shares issued and $420,000 1,120,000 1,540,000 1,858,000 3,398,000 40,600 $3,357,400 outstanding Common stock, no par, 740,000 shares authorized, 560,000 shares issued Total paid-in capital Retained earning:s Total paid-in capital and retained earnings Less: Treasury stock (7,000 common shares) Total stockholders' equity From a review of the stockholders' equity section, as chief accountant, write a memo to the president of the company answering the following questions (a) How many shares of common stock are outstanding? (b) Assuming there is a stated value, what is the stated value of the common stock? (c) What is the par value of the preferred stock? (d) If the annual dividend on preferred stock is $50,400, what is the dividend rate on preferred stock? (e) Earnings? shares per share per share If dividends of $100,800 were in arrears on preferred stock, what would be the balance in Retained