The stockholders' equity section of Martinez Corporation's balance sheet at December 31 is presented here. Martinez Corporation Balance Sheet (partial) Stockholders'equity Paid-in capital Preferred stock, cumulative, 10,700 shares authorized, 6,400 shares issued and outstanding $640,000 Common stock, no par, 770,000 shares authorized, 600,000 shares issued Total paid-in capital 3,040,0002,400,000 Retained earnings Total paid-in capital and retained earnings 4,231,0001,191,000 Less: Treasury stock (5,800 common shares) Total stockholders' equity From a review of the stockholders' equity section, answer the following questions. (a) How many shares of common stock are outstanding? Common stock outstanding shares (b) Assuming there is a stated value, what is the stated value of the common stock? Stated value of the common stock pershare (c) What is the par value of the preferred stock? Par value of the preferred stock per share (d) If the annual dividend on preferred stock is $57,600, what is the dividend rate on preferred stock? Dividend rate % (e) If dividends of $115,200 were in arrears on preferred stock, what would be the balance reported for retained earnings? Balance reported for retained earnings $