Lobster Inc. has 45,000 shares of 2% preferred stock, $12 par and 110,000 shares of $15 par common stock. During the first two years of operations, the following amounts were distributed: First year, $6,000; Second year, $21,000.

Required:

• Determine the amount of the dividend that will be allocated to Preferred Stock and Common Stock.
• Calculate the Dividend Per Share for both Preferred and Common Stock.