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: 142,000 shares of $14 par common stock. 9,000 shares of $140 par, 6 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 9,000 shares of preferred stock and a $5 per share dividend for the common shareholders. The dividend will