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Determine the total amount of dividends to be paid to the preferred...

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Accounting

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 at January 1, Year 1:
201,000 shares of $1 par common stock.
21,000 shares of $105 par, 5 percent, noncumulative preferred stock.
On June 10, Weaver Corporation declared the annual cash dividend on its 21,000 shares of preferred stock and a $0.25 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.
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