Determining Preferred Dividend Distributions Olivia Inc. had 30,000 outstanding shares of common stock, $0.01 par, and 8,000 outstanding shares of 7%, cumulative preferred stock, $50 par throughout its initial four years of operations. The company declared dividends of $0, $40,000, $40,000, $40,000, in years 1, 2, 3, and 4, respectively. Required 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. Note: Enter the per share amounts in dollars and cents, rounded to the nearest penny. Total Dividends Dividends per Share Preferred Common Preferred Year 1 $ 0 $ 0 $ 0 $ Year 2 $ 0 $ 0 $ 0 $ Year 3 $ 0 $ 0 $ 0 $ Year 4 $ 0 $ 0 $ 0 $ Common 0 0 0 0