Problem 13-5A (Algo) Computing par values and dividend allocations LO C2 [The following information applies to the questions displayed below.] Raphael Corporation's balance sheet shows the following stockholders' equity section. Preferred stock-5% cumulative, $ par value, 1,000 shares authorized, issued, and outstanding Common stock-$ Retained earnings par value, 4,000 shares authorized, issued, and outstanding Total stockholders' equity Problem 13-5A (Algo) Part 2 $ 55,000 100,000 320,000 $ 475,000 2. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $17,200, compute the total amount paid to (a) preferred shareholders and (b) common shareholders. a. Total amount paid to the preferred shareholders b. Total amount paid to the common shareholders