Required information The following information applies to the questions displayed below) Raphael Corporation's balance sheet shows the following stockholders' equity section Preferred stock-54 cumulative, par value, 1,000 shares authorised, sued, and outstanding Common stock par valge, 4,000 shares authorised sued, and outstanding Retained earnings Total stockholders' equity $ 55,000 140,000 350,000 $ 555,000 21 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 Preferred stock-st eunulative, s par value, 1,000 shares authorized, conued, and outstanding par value, 4,000 shares authorized, dowed, and outstanding Total stockholders' equity Common stock Retained earnings 55.000 140.000 360,000 HHS 553,000 2. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $12,250, 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