LACHLIN CORPORATION Balance Sheet (partial)
Stockholders equity
Paid-in capital
Preferred stock, cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding		$ 600,000
Common stock, no par, 750,000 shares authorized, 580,000 shares issued		2,900,000
Total paid-in capital		3,500,000
Retained earnings		1,158,000
Total paid-in capital and retained earnings		4,658,000
Less: Treasury stock (6,000 common shares)		32,000
Total stockholders equity		$4,626,000

From a review of the stockholders equity section, answer 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 $36,000, what is the dividend rate on preferred stock?

(e) If dividends of $72,000 were in arrears on preferred stock, what would be the balance reported for retained earnings?