Greg's Grocery,Inc.has 48,000 shares of common stock outstanding and 5,000 shares of preferred stock outstanding.The common stock is $5.00 par value;the preferred stock is 8% noncumulative with a $100.00 par value.On October 15,2017,the company declares a total dividend payment of $57,000.What is the amount of dividend that will be paid for each share of common stock? (Round your answer to the nearest cent. )

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A)Dividend paid to the common stockholders = $57,000.00 - [($100.00 × 8%)× 5,000] =
$ 11ea8a42_4f5b_9cb3_8b44_c3c9b7681716_TB5024_00 Dividends per common share = $17,000.00 / 48,000 = $0.35