Reference no: EM13602539

Razz Corporation's common stock is currently selling on a stock exchange at $175 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 $ 85,000
• Common stock-$___ par value, 4,000 shares authorized, issued, and outstanding 140,000
• Retained earnings 300,000
• Total stockholders' equity $ 525,000

What are the par values of the corporation's preferred stock and its common stock? (Omit the "$" sign in your response.)
Par value
Corporation's preferred stock $ __________
Corporation's common stock $ __________