Weaver Corporation thad the following stock issued and oulstanding at January 1, Year 1. 1. 103.000 sharos of $7 par common stock. 2. 4.500 shares of $100 par, 7 percent. noncumulative preferted stock: On june 10, Weaver Corporation declared the annual cash dividend on its 4,500 shares of preferred stock and a 54 per shane dividend for the common shareholders. The dividends will be poid on July 1 to the shareholders of record on June 20 . Required a. Determine the total amount of dividends to be paid to the preferted shareholders amd common shakeholders b. Prepare general joumal entries to record the declaration and payment of the cash dividends. Cemplete this questien by entering your answers in the tabs below. Determine the total amount of dividends to be paid to the preferred shareholders and common shareholders. Weaver Corporation had the following stock issued and outstanding ot January 1, Year t 1. 103,000 shares of 57 par common stock. 2. 4,500 shares of $100 pat, 7 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 4,500 shares of preferred stock and a $4 per share dividend for the common shareholders. The dividends will be paid on July t to the shareholders of record on June 20 Required a. Determine the total amount of dividends to be paid to the preferred shareholders and common shareholders. b. Prepare general journal entries to record the decioration and psyment of the cash dividends. Complete this question by entering your answers in the tabs below. Prepare general journal entries to record the declaration and payment of the cash dividends. (If no entry is required for a transaction/event, select "No fournat entry required" in the first account held.) Journal entry worksheet 4 On June 10, Weaver Corporation deciared the annual cash dividend on its 4,500 shares of preferred stock and a $4 per share dividend for the common shareholders. Note: Eater Geats before creats