Problem 1. The stockholders' equity section of MaiStyle Corporation's balance sheet at December 31 is pres,ented here.

MAISTYLE CORPORATION Balance Sheet (partial)
Stockholders' equity
Paid-in capital
Preferred stock, cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding	$900,000
Common stock, no par; 750,000 shares authorized, 600,000 shares issued	1,800,000
Total paid-in capital	2,700,000
Retained earnings	1,158,000
Total paid-in capital and retained earnings	3,858,000
Less: Treasury stock (8,000 common shares)	(32,000)
Total stockholders' equity	$3,826,000

Instructions

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 sto

(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?