Additional Exercise 300 Sleep Corporation was organized on January 1, 2014. 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: 2014$6,000 2015 $30,000 2016 $60,000 Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 4% and not cumulative Preferred Common Total 2014 2015 2016 Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and cumulative Preferred Common Total 2014 2015 2016 Journalize the declaration of the cash dividend at December 31, 2016 using the assumption of part (b). (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit