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

FAUBERG MARIGNY CORPORATION Balance Sheet (partial)
	Paid-in capital
			Preferred stock, cumulative, 10,000 shares authorized, 6,000 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 (10,000 common shares)							64,000
Total stockholders' equity								$3,294,000

From a review of the stockholders equity section, as chief accountant, write a memo to the president of the company answering the following questions.

(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?