Weaver Corporation had the following stock issued and outstanding at January 1, Year 1

1. 58,000 shares of $4 par common stock

2. 5000 shares of $150 par 8 percent , noncumulative perferred stock

On June 10, Weaver Corporation declared the annual cash dividend on its 5,000 shares of perferred stock and a $3 per share dividend for the common shareholders. The Dividends will be paid on July 1 to the shareholders of record June 20.

Determine the total amount of Dividends to be paid to the preferred shareholders and common shareholders

Exercise 11-7A (Algo) Cash dividends for preferred and common shareholders LO 11-3 Weaver Corporation had the following stock issued and outstanding at January 1, Year 1 1. 58,000 shares of $4 par common stock. 2. 5,000 shares of $150 par, 8 percent, noncumulative preferred stock. On June 10 , Weaver Corporation declared the annual cash dividend on its 5,000 shares of preferred stock and o $3 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