23 The shareholders' equity of Nick Co. includes the items shown below. The board of directors of Nick declared cash dividends of $4.9 million, $12.5 million, and $54.5 million in each of its first 3 years of operation: 2019, 2020, and 2021, respectively. Common stock, $1 par, 50,000,000 shares outstanding Preferred stock, 6%, $100 par, 1,000,000 shares outstanding points Required: Determine the amount of dividends per share on preferred and common stock for each of the three years. The preferred stock is noncumulative and nonparticipating. (Enter your answers in millions rounded to 2 decimal places.) (8 01:47:37 Preferred Common Year 2019 2020 eBook 2021