Canon company has the following equity section:

Equity

contributed capital:

prefer preferred shares, $4, cumulative, 10,000 shares outstanding $275,000

common shares, no par value, unlimited shares authorized, 30,000 shares issued and outstanding 245,000

total contributed capital $520,000

retained earnings 250,000

total equity $770,000

dividends were not paid to the preferred shareholders for the past two years. In the current year the Board of Directors declared $132,000 cash dividend.

Required

determine the total dividends paid to each class and the dividend per share to both common and preferred shareholders.

Cannon Company has the following equity section: Equity Contributed Capital: Preferred shares, $4, cumulative, 10,000 shares outstanding $275,000 Common shares, no-par value, unlimited shares authorized, 30,000 shares issued and outstanding 245.000 Total contributed capital $520,000 Retained earnings 250.000 Total equity $770,000 Dividends were not paid to the preferred shareholders for the past two years. In the current year the Board of Directors declared a $132,000 cash dividend. REQUIRED: Determine the total dividends paid to each class and the dividend per share to both common and preferred shareholders