PLS ANSWER BOTH QUESTIONS

Required information [The following information applies to the questions displayed below] Raphael Corporation's balance sheet shows the following stockholders' equity section. Preferred stock-st cunulative, \$ par value, 1,000 shares authorlzed, 1ssued, and outstanding Common Btock-\$ par value, 4,000 shares authorizod, issued, and outstanding Retained earnings Total stockholders' equity Required: 1. Determine the par values of the corporation's preferred stock and its common stock. Required information [The following information applies to the questions displayed below] Raphael Corporation's balance sheet shows the following stockholders' equity section. Preferred stook -5 \& cumulative, $ par value, 1,000 shares authorized, issued, and outstanding Common stock-\$_ par value, 4,000 shares authorized, issued, and outstanding Retained earnings $35,000140,000370,000$595,000 Total stoekholders' equity 2. If two years' preferred dividends are in arrears at the current date and the board of directors deciares cash dividends of $21,750. sompute the total amount paid to (o) preferred shareholders and (b) common shareholders