(Answered) Raphael corporations common stock is currently selling on a

Accounting

Raphael Corporation's common stock is currently selling on a stock exchange at $195 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 $ 90,000
Common stock-$___ par value, 4,000 shares authorized, issued,
and outstanding 180,000
Retained earnings 380,000

Total stockholders' equity $ 650,000

Preferred equity is not 99,000
Common is not 560,000

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