Raphael Corporation's balance sheet shows the following stockholders' equity section. Preferred stock-5% cumulative, $ par value, 1,000 shares authorized, issued, and par value, 4,000 shares authorized, issued, and outstanding outstanding Common stock-$ Retained earnings Total stockholders' equity Problem 11-5A (Algo) Part 1 Required: 1. Determine the par values of the corporation's preferred stock and its common stock. Corporation's preferred stock Corporation's common stock Par Value $ 65,000 200,000 370,000 $635,000 Raphael Corporation's balance sheet shows the following stockholders' equity section. Preferred stock-58 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 $ 65,000 200,000 370,000 $ 635,000 Problem 11-5A (Algo) Part 2 2. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $10,800, 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 Dividends Noncum The Company has Preferred Stock that is consisting of outstanding stock 85,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 150,000 shares of common stock with a $1 par value. During its first three years of operation, the corporation declared and paid the following total cash dividends: First calculate that amount of dividends that is due to noncumulative preferred stock each year given the above information: (hint % X par value X outstanding shares) Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. (Round your "Dividend per Preferred Share" answer to 3 decimal places.) Year 1 total cash dividends Year 2 total cash dividends $13,900 23,500 Year 3 total cash dividends 280,000 Total Cash $13,900 Year 1 Year 2 $23,500 Year 3 paid) $280,000 Total for three years Paid to Non- Cumulative Preferred Paid to Common Dividends in Arrears at Year-end