The stockholders equity section of Ahab Corporation at December 31 is as follows.

AHAB CORPORATION Balance Sheet (partial)
Paid-in capital
Preferred stock, cumulative, 10,000 shares authorized, 5,000 shares issued and outstanding		$300,000
Common stock, no par, 750,000 shares authorized, 600,000 shares issued		1,200,000
Total paid-in capital		1,500,000
Retained earnings		1,858,000
Total paid-in capital and retained earnings		3,358,000
Less: Treasury stock (75,000 common shares)		(75,000	)
Total stockholders equity		$3,283,000

From a review of the stockholders equity section, as chief accountant, write a memo to the president of the company answering the following questions. (Refer to the book values of Exercise 11-11.)

(a)		How many shares of common stock are outstanding?
(b)		Assuming there is a stated value, what is the stated value of the common stock?
(c)		What is the par value of the preferred stock?
(d)		If the annual dividend on preferred stock is $30,000, what is the dividend rate on preferred stock?
(e)		If dividends of $60,000 were in arrears on preferred stock, what would be the balance in Retained Earnings?