Required information [The following information applies to the questions displayed below.] 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 $ 70,000 200,000 330,000 $ 600,000 2. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $23,700, compute the total amount paid to (a) preferred shareholders and (b) common shareholders. Total amount paid to the preferred shareholders Total amount paid to the common shareholders ! Required information [The following information applies to the questions displayed below.] 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 $ 50,000 80,000 150,000 $ 280,000 2. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $11,500, compute the total amount paid to (a) preferred shareholders and (b) common shareholders. Total amount paid to the preferred shareholders Total amount paid to the common shareholders