1. 10 points) Newton Inc. had 90,000 outstanding shares of common stock, $0.01 par, and 24,000 outstanding shares of 7%, cumulative preferred stock, $50 par throughout its initial four years of operations. The company declared dividends of $0, $120,000, $120,000, $120,000, in years 1, 2, 3, and 4, respectively.

Determine how the dividends were shared between the preferred and common shareholders in years 2, 3, and 4 in total and on a per share basis. Round per share amounts to two decimal places.