Required information [The following information applies to the questions displayed below.] Raphael Corporation's common stock is currently selling on a stock exchange at $190 per share, and its current balance sheet shows the following stockholders' equity section: Preferred stock5% cumulative, $ par value, 1,000 shares authorized, issued, and outstanding $ 90,000 Common stock-$_ par value, 4,000 shares authorized, issued, and outstanding 120,000 Retained earnings 320,000 Total stockholders' equity $530,000 2. What are the par values of the corporation's preferred stock and its common stock? Par Value 90 Corporation's preferred stock Corporation's common stock $ 30