Hannahs outstanding stock consists of 35,000 shares of cumulative 4% preferred stock with a $40 par value and also 120,000 shares of common stock with a $1.50 par value. Declared and Paid dividends as follows: Year 1: $50,000; Year 2: $60,000; Year 3: $100,000; Year 4: $120,000.

REQUIRED: Determine the amount of dividends paid each year to each of the two classes of stock: preferred and common. Also compute the per share dividend paid each year to each of the two classes of stock.

MUST SHOW ME HOW YOU FOUND THE ARREARS TO GET CREDIT. ROUND TO THE NEAREST CENT.