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The following information applies to the questions displayed below. current balance sheet shows the following stockholders' equity section: Preferred stock-5% cumulative, $--par value, 1,000 shares

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The following information applies to the questions displayed below. current balance sheet shows the following stockholders' equity section: 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 $55,000 160,000 320,000 Total stockholders' equity $535,000

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