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Required information

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Raphael Corporation's balance sheet shows the following stockholders' equity section.

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

Required:

Determine the par values of the corporation's preferred stock and its common stock.

$\backslash$table$[[,$Par value$],[$Corporation$\text{'}$s preferred stock,$],[$Corporation$\text{'}$s common stock,$]]$