ACCO 112-Ejercicios Taller 5 shares of no-par common stock issued and outstanding The stock bas astated value of per share. During t r,t olloning occurned Apr. i Issued ss.ooo additional shares of common stock for $17 per share. June 15 Declared a cash dinidend of Ss per share to stockholders of record on June go July so Paid the $1 cash dividend Dec. 1 Issued 2,000 additional shares of common stock for Si9 per share s Declared a cash dividend on outstanding shares of $1.20 per share to stoekholders of record on December ga 2 -Timbe r Ridge Corporation was organized on January 1, 2018. During its first year, the corporation issued 40,000 shares of $5 par value preferred stock and 400,000 shares of $1 par value common stock. At December 31, the company declared the following cash dividends: $ 8,000 $30,000 $70,000 2018 2019 Instructions (a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 5% and not cumulative (b) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and cumulative