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Blossom Company was organized on January 1, 2021. During its first year, the corporation issued 2,200 shares of $50 par value preferred stock and 150,000
Blossom Company was organized on January 1, 2021. During its first year, the corporation issued 2,200 shares of $50 par value preferred stock and 150,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $4,500; 2022, $11,900; and 2023, $27,400. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 5% and noncumulative. (Do not leave any answer field blank. Enter O for amounts.) 2021 2022 2023 Total dividend $ ta $ Allocation to preferred stock Remainder to common stock $ ta $ $
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