Weaver Corporation had the following stock issued and outstanding at January 1, Year 1. 1. 104.000 shares of $14 par common stock 2.8,500 shares of $140 par , 7 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 8.500 shares of preferred stock and a $5 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. Preferred stock Common stock