Exercise 11-4 The stockholders' equity section of Whispenng 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, 11,167 shares authorized, 6,700 shares issued and outstanding 5 688,400 Common stock, no par, 735,776 shares authorized, 569,000 shares issued 1.707.000 2,390/400 Total paid-in capital Retained earnings 1,155,000 Total paid-in capital and retained earnings 3,545,400 Less: Treasury stock (6,100 common shares) 32,533 $3,512,867 Total stockholders' equity 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 annual dividend on preferred stock is $47,838, what is the dividend rate on preferred stock? The dividend rate 98 (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