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Required information Skip to question [The following information applies to the questions displayed below.] Raphael Corporations balance sheet shows the following stockholders equity section. Preferred

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[The following information applies to the questions displayed below.] Raphael Corporations balance sheet shows the following stockholders equity section.

Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding $ 75,000
Common stock$___ par value, 4,000 shares authorized, issued, and outstanding 200,000
Retained earnings 330,000
Total stockholders' equity $ 605,000

Required: 1. Determine the par values of the corporations preferred stock and its common stoc

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