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Required information [The following information applies to the questions displayed below.] Raphael Corporation's common stock is currently selling on a stock exchange at $189 per
Required information
[The following information applies to the questions displayed below.]
Raphael Corporation's common stock is currently selling on a stock exchange at $189 per share, and its current balance sheet shows the following stockholders' equity section:
Preferred stock?5% cumulative, $___ par value, 1,000 shares
authorized, issued, and outstanding$100,000Common stock?$___ par value, 4,000 shares authorized, issued,
and outstanding120,000Retained earnings390,000Total stockholders' equity$610,000
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