Reference no: EM133062738

Question - Weaver Corporation had the following stock issued and outstanding at January 1, Year 1. 1. 59.000 shares of $5 par common stock. 2. 4.500 shares of $120 par, 8 percent, noncumulative preferred stock, On June 10, Weaver Corporation declared the annual cash dividend on its 4,500 shares of preferred stock and a $1 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20. Determine the total amount of dividends to be paid to the preferred shareholders and common shareholders.