Required information (The following information applies to the questions displayed below.] Raphael Corporation's balance sheet shows the following stockholders' equity section. $ 55,000 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 180,000 310,000 $ 545,000 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 Required information [The following information applies to the questions displayed below.] Raphael Corporation's balance sheet shows the following stockholders' equity section. $ 55,000 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 180,000 310,000 $ 545,000 2. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $14,250, 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