Answer Happy

Required information [The following information applies to the questions displayed below.) Raphael Corporation's balance sheet shows the following stockholders' equity section Preferred stock-5% cumulative, $___ par value, 1,800 shares authorized, issued, and outstanding Common stock-s_ par value, 4,000 shares authorized, issued, and outstanding Retained earnings Total stockholders' equity $ $0,000 80,000 150,000 $ 280,000 2. If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $11,500, compute the total amount paid to (a) preferred shareholders and (b) common shareholders. Total amount paid to the preferred shareholders Total amount paid to the common shareholders $ $ 50 20