$[$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 $ $75,000$

Common stock$$$$\_\_\_$ par value, $4,000$ shares authorized, issued, and outstanding $160,000$

Retained earnings $360,000$

Total stockholders' equity $ $595,000$

Problem $13-5$A $($Algo$)$ Part $1$

Required:

$1.$ Determine the par values of the corporation$$s preferred stock and its common stock.

What is the corporations commons stock and preffered stock?