The stockholders' equity section of Skysong, Inc. balance sheet at December 31 is presented here: Stockholders' equity Paid-in capital SKYSONG, INC. Balance Sheet (partial) Preferred stock, cumulative, 11,000 shares authorized, 6,000 shares issued and outstanding $600,000 Common stock, no par, 860,000 shares authorized, 610,000 shares issued 6,100,000 Total paid-in capital 6,700,000 Retained earnings 1,380,000 Total paid-in capital and retained earnings 8,080,000 Less: Treasury stock (5,000 common shares) 44,000 $8,036,000 Total stockholders' equity From a review of the stockholders' equity section, answer the following questions. How many shares of common stock are outstanding? Outstanding shares shares Assuming there is a stated value, what is the stated value of the common stock? Stated value of common stock $ per share What is the par value of the preferred stock? Par value of preferred stock $ per share If the annual dividend on preferred stock is $34,000, what is the dividend rate on preferred stock? (Round answer to 2 decimal places, e.g. 52.75.) Dividend rate on preferred stock % If dividends of $69,000 were in arrears on preferred stock, what would be the balance reported for retained earnings? Balance for Retained Earnings $