Exercise 8-9A (Algo) Cash dividends for preferred and common shareholders LO 8-3 Weaver Corporation had the following stock issued and outstanding at January 1, Year 2 1.58,000 shares of $7 par common stock. 2. 8,500 shares of $140 par, 6 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 8,500 shares of preferred stock and a $3 per share dividend for the common shareholders. The dividend will be paid on July 1 to 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 Exercise 8-11A (Algo) Issuing stock for cash LO 8-4 Tom Yuppy, a wealthy investor, paid $52,000 for 1,300 shares of $10 par common stock issued to him by Leuig Corp. A month later, Leuig Corp. issued an additional 2,600 shares of stock to Yuppy for $40 per share. Required Show the effect of the two stock issues on Leuig's books in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. Event 1-Common stock 2-Issue of additional shares LEUIG CORP. Horizontal Statements Model Balance Sheet Income Statement Statement of Cash Assets Common Cash Land Stock Stockholders' Equity PIC In Excess Revenue Expense Net Income Flow