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The shareholders' equity of Nick Co. includes the items shown below. The board of directorsof Nick declared cash dividends of $4 million, $8 million, and

The shareholders' equity of Nick Co. includes the items shown below. The board of directorsof Nick declared cash dividends of $4 million, $8 million, and $50 million in each of its first 3years of operation: 2004, 2005, 2006, respectively.Common stock, $1 par, 50,000,000 shares outstandingPreferred stock, 6%, $100 par, 1,000,000 shares outstanding

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Determine the amount of dividends per share on preferred and common stock for each of thethree years. The preferred stock is noncumulative and nonparticipating.

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