] 78% sun 4 PM Alex × ,G Kelley Company Reports $960 × nect cure ht tion.com/flo
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] 78% sun 4 PM Alex × ,G Kelley Company Reports $960 × nect cure ht tion.com/flow/connect.html HOMEWORK Help Save Required information The following information applies to the questions displayed below Raphael Corporation's common stock is currently selling on a stock exchange at $192 per share, and its current balance sheet shows the following stockholders' equity section: Preferred stock-5% cumulative, $--par value, 1,000 shares authorized, issued, and outstanding Common stock- par value, 4,000 shares authorized, issued $ 75,000 and outstanding Retained earnings Total stockholders equity 140,000 360,000 575,000 2. What are the par values of the corporation's preferred stock and its common stock? Corporation's preferred stock 75 Prey 10 11 12 13 of 13 Next > 3 7 8 9Explanation / Answer
Par value of Corporation preferred stock = Value of preferred stock ÷ Total preferred stock = 75,000÷1,000 = $75
Par value of Corporation common stock = Value of common stock ÷ Total common stock = 140,000÷4,000 = $35
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