Your answer is partially correct The stockholders' equity section of Grouper Corp's balance sheet at December 31 is presented here. GROUPER CORP. Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, cumulative, 9,500 shares authorized, 5,700 shares issued and outstanding $587,100 Common stock, no par, 749,000 shares authorized. 579,000 shares issued 2,895,000 Total paid-in capital 3,482,100 Retained earnings 1,200,000 Total paid-in capital and retained earnings 4,682,100 Less: Treasury stock (6,800 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? 36,300 $4,645,800 (a) How many shares of common stock are outstanding? Common stock outstanding 572.200 shares (b) Assuming there is a stated value, what is the stated value of the common stock? The stated value of the common stock $ (c) What is the par value of the preferred stock? per share The par value of the preferred stock $ 103 per share (d) If the annual dividend on preferred stock is $41,097, what is the dividend rate on preferred stock? The dividend rate 7.21 % (e) If dividends of $73,200 were in arrears on preferred stock, what would be the balance reported for retained earnings? The Retained Earnings balance 1,273,200