Weaver Corporation had the 1.97,000 shares of $9 par common stock. 2.5,000 shares of $100 par, 7 percent, noncumulative preferred stock. following stock issued and outstanding at January 1, Year 2: On June 10, Weaver Corporation declared the annual cash dividend on its 5,000 shares of preferred stock and a $2 per share dividend for the common shareholders. The dividend will be paid on July 1 to the shareholders of record on June 20.
Weaver Corporation had the 1.97,000 shares of $9 par common stock. 2.5,000 shares of $100 par, 7 percent, noncumulative preferred stock. following stock issued and outstanding at January 1, Year 2: On June 10, Weaver Corporation declared the annual cash dividend on its 5,000 shares of preferred stock and a $2 per share dividend for the common shareholders. The dividend will be paid on July 1 to the shareholders of record on June 20.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Weaver Corporation had the following stock issued and outstanding at January 1, Year 2:
1.97,000 shares of $9 par common stock.
2.5,000 shares of $100 par, 7 percent, noncumulative preferred stock.
On June 10, Weaver Corporation declared the annual cash dividend on its 5,000 shares of preferred stock and a $2 per share
dividend for the common shareholders. The dividend will be paid on July 1 to the shareholders of record on June 20.
Required
Determine the total amount of dividend to be paid to the preferred shareholders and common shareholders.
Preferred stock
Common stock
Total dividend
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