Air Guitars Corp (AGC) currently has:

220 000 common shares issued at $15 per share

30 000 $5 non-cumulative preferred shares issued at $200 per share

On January 5th, Air Guitars Corp. declares a dividend of $235 000 to shareholders of record on January 18th, which they will pay on January 31st. Make the appropriate journal entries to record:

a) The declaration of the dividend

b) the payment of the dividend.

c) What was the dividend per share for the common shareholders?