Greg's Grocery, Inc has 45,000 shares of common stock outstanding and 8,000 shares of preferred stock outstanding

The common stock is $0.10 par value; the preferred stock is 7% noncumulative with a $100.00 par value. On October 15, 2017, the company declares a total dividend payment of $51,000. What is the amount of dividend that will be paid for each share of common stock? (Round your answer to the nearest cent.)
A) $(0.11 )
B) $4,500.00
C) $45.00
D) $0.88

A .A) Dividend paid to the common stockholders = $51,000.00 - [($100.00 x 7%) x 8,000] =
Dividends per common share = -$5,000.00 / 45,000 = $(0.11 )