Please help and show formula The board of directors of Tru Corporation declared cash dividends of $4.4 million, $9.0 million, and $51.0 million in each of its first 3years of operation: 2019, 2020, and 2021, respectively. The shareholders' equity of Tru Corporation Includes the items shown below.Common stock, $1 par, 50,000,000 shares outstandingPreferred stock, 5%, $100 par, 1,000,000 shares outstandingRequired:Determine the amount of dividends per share on preferred and common stock for each of the three years. The preferred stock isnoncumulative and nonparticipating. (Round your answer to 2 decimal places. For instance, If your answer is $12 per share, write12.00. If your answer is 32 cents per share, write 0.32).Year Preferred Common201920202021

Dividend per share: Dividend per share is calculated for Preferred stock as well as Common Stock. Dividend per share is shown and the Statement of Profit & Loss. Dividend per share denotes the earnings distributed per share.Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share x rate of dividend = 1,000,000 x $100 x 5% = $5,000,000Year Total cash dividend paid Paid to preferred Paid to common 2019 $4,400,000 $4,400,000 0 2020 $9,000,000 $5,000,000 $4,000,000 2021 $51,000,000 $5,000,000 $46,000,000Year Preferred Common 2019 $4,400,000/1,000,000 = $4.40 per share 0 2020 $5,000,000/1,000,000 = $5.00 per share $4,000,000/50,000,000 = $0.08 per share 2021 $5,000,000/1,000,000 = $5.00 per share $46,000,000/50,000,000 = $0.92 per share