Problem 13-5A Computation of book values and dividend allocations LO C2, A4

[The following information applies to the questions displayed below.]

Raphael Corporations common stock is currently selling on a stock exchange at $160 per share, and its current balance sheet shows the following stockholders equity section:

Preferred stock5% cumulative, $___ par value, 1,000 shares

authorized, issued, and outstanding $ 70,000

Common stock$___ par value, 4,000 shares authorized, issued,

and outstanding 180,000

Retained earnings 340,000

Total stockholders' equity $ 590,000

1. What is the current market value (price) of this corporations common stock?

2.

What are the par values of the corporation's preferred stock and its common stock?