Weaver Corporation had the following stock issued and outstanding at January 1, Year 1. 124,000 shares of $14 par common stock. 9,000 shares of $80 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 $4 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20