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Saved Help Exercise 8-9 Cash dividends for preferred and common shareholders LO 8-3 Weaver Corporation had the following stock issued and outstanding at January 1, 2018: 1. 64,000 shares of $9 par common stock. 2. 5,500 shares of $70 par, 8 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 5,500 shares of preferred stock and a $4 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. Total dividend arch O Ei W