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Required information [The following information applies to the questions displayed below.] Raphael Corporations...

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Accounting

Required information

[The following information applies to the questions displayed below.] Raphael Corporations balance sheet shows the following stockholders equity section.

Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding $ 75,000
Common stock$___ par value, 4,000 shares authorized, issued, and outstanding 200,000
Retained earnings 310,000
Total stockholders' equity $ 585,000

1. What are the par values of the corporations preferred stock and its common stock?

2. If no dividends are in arrears at the current date, what is the book value per share of common stock?

3. If two years preferred dividends are in arrears at the current date, what is the book value per share of common stock?

4. If two years preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $21,250, what total amount will be paid to the preferred and to the common shareholders?

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