Raphael Corporation's balance sheet shows the following stockholders' equity section. $ 80,000 Preferred stock-5% cumulative, $ par value, 1,000 shares authorized, issued, and outstanding Common stock-$_ par value, 4,000 shares authorized, issued, and outstanding Retained earnings Total stockholders' equity 80,000 310,000 $ 470,000 Required: 1. Determine the par values of the corporation's preferred stock and its common stock. Par Value Corporation's preferred stock Corporation's common stock