[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 authorized, issued, and outstanding Common stock-$ par value, 4,000 shares authorized, issued, and outstanding Retained earnings Total stockholders' equity $ 80,000 140,000 370,000 $ 590,000 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