Weaver Corporation had the following stock issued and outstanding at January 1, Year 1. 1. 143,000 shares of $7 par common stock. 2.6,500 shares of $70 par, 6 percent, noncumulative preferred stock On June 10, Weaver Corporation declared the annual cash dividend on its 6,500 shares of preferred stock and a $2 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20. Required Determine the total amount of dividends to be paid to the preferred shareholders and common shareholders. Proforred stock Common stock