Question 10 The stockholders' equity section of Blessings Corporation at December 31 is as follows. BLESSINGS CORPORATION Balance Sheet (partial) Paid-in capital Preferred stock, cumulative, 10,000 shares authorized, 5,000 shares issued and outstanding $ 300,000 Common Stock, no par, 750,000 shares authorized, 375,000 shares issued 1,500,000 otal paid-in capital 1,800,000 Total paid-in capital 1,800,000 Retained earnings 2,050,000 Total paid-in capital and retained earnings 3,850,000 Less: Treasury stock (4,000 common shares) (64,000) Total stockholders' equity $3,786,000 Requirements 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 stock? d) If the annual dividend on preferred stock is $21,000, what is the dividend rate on preferred stock? e) If dividends of $42,000 were in arrears on preferred stock, what would be the balance in Retained Earnings