Problem 1. The stockholders' equity section of MaiStyle Corporation's balance sheet at December 31 is presented here. MAISTYLE CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 10,000 shares authorized,$900,000 6,000 shares issued and outstanding Common stock, no par; 750,000 shares authorized 600,000 shares issued 1,800,000 2,700,000 1,158,000 3,858,000 Less: Treasury stock (8,000 common shares)(32,000) $3,826,000 Total paid-in capital Retained earnings Total paid-in capital and retained earnings Total stockholders' equity 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? (e) 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