CboxCorporation has outstanding 110,000 shares of 12 percent, $80 par-value cumulative preferred stock and 500,000 shares of no- par-value common stock. Required: 1. During 20X1, the corporation distributed dividends of $792,000. What amount will be paid on each share of preferred stock? What amount will be paid on each share of common stock? 2. During 20X2, the corporation distributed dividends of $1,720,000. What amount will be paid on each share of preferred stock? What amount will be paid on each share of common stock? (Round your answers to 2 decimal places.) 1. Preferred stock, Year 20X1 Common stock, Year 20X1 2. Preferred stock, Year 20X2 Common stock, Year 20X2 $ 7.20 per preferred share $ 0.00 per common share per preferred share per common share