Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 380,000 shares of $10 par common stock and 60,000 shares of 5 percent cumulative class A preferred stock. The class A stock had a stated value of $25 per share. The following stock transactions pertain to Eastport Inc. 1. Issued 20,000 shares of common stock for $15 per share. 2. Issued 9,000 shares of the class A preferred stock for $30 per share. 3. Issued 41,000 shares of common stock for $18 per share. Required Prepare the stockholders' equity section of the balance sheet immediately after these transactions have been recognized. EASTPORT INC. Balance Sheet (partial For the Year Ended Year 1 Stockholders' Equity 15 $ 0 Total Paid-in Capital 5 0 Total stockholders' equity Weaver Corporation had the following stock issued and outstanding at January 1, Year 2: 1. 81,000 shares of $7 par common stock. 2. 9,500 shares of $70 par, 6 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 9,500 shares of preferred stock and a $2 per share dividend for the common shareholders. The dividend will be paid on July 1to the shareholders of record on June 20. Required Determine the total amount of dividend to be paid to the preferred shareholders and common shareholders. Preferred stock Common stock Total dividend