How to determine the dividend per share for the common shares

share capital Common shares up to a max 5,000,000 authorized 1,000,000 shares issued at average price per share $7,000,000 S7 $3,250,000 $3 cumulative Preferred shares up to a max 500000 authorized 65,000 shares issued at the average share price $50 Retained earnings opening balance 550,000 the following transactions occur during the year a) the board declares a cash dividend of $400,000 (the company failed to pay last years preferred dividend) b) the company pays the cash dividend c) the company does a 31 stock split to increase the marketability of the shares d) the company issues 100 preferred shares to the accountant to cover accounting expenses of (Common only) 32000 e) the company makes a net income of $600,000 DR CR Date a) $400,000 Description retained earnings dividend payable-preferred dividend payable-common To declare a cash dividend 390000 100001 390000 $10,000 dividend payable-preferred dividend payable-common cash To pay the cash dividend 400000 statement of shareholders equity LKS itd share capital 3,000,000 common shares issued 65,100 S3 preferred shares issued Total share capital Retained earnings total shareholders equity $7,000,000 $3,282,000 $10,282,000 $750,000 $11,032,000 vhat is the average price of the common share? vhat is the average price of the preferred share? What was the dividend per share for the common shares? $2.33 $50