The stockholders' equity section of Haley Corporation at December 31 is as follows HALEY CORPORATION Balance Sheet (Partial) Paid-in capital Preferred stock, cumulative, 16,000 shares authorized, 9,600 shares issued and $576,000 1,020,000 1,596,000 1,858,000 3,454,000 46,800 $3,407,200 outstanding Common stock, no par, 720,000 shares authorized, 510,000 shares issued Total paid-in capital Retained earnings Total paid-in capital and retained earnings Less: Treasury stock (9,000 common shares) Total stockholders' equity 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 $51,840, what is the dividend rate on preferred stock? 529200 shares 1per share 60 per share 12 (e) If dividends of $103,680 were in arrears on preferred stock, what would be the balance in Retained Earnings? 1707520