Blossom Corporation was organized on January 1, 2019. During its first year, the corporation issued1,900shares of $50par value preferred stock and100,000shares of $10par value common stock. At December 31, the company declared the following cash dividends: 2019, $6,150; 2020, $13,600; and 2021, $27,500.

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is7% and noncumulative.

2019

2020

2021

Allocation to preferred stock$

$

$

Allocation to common stock$

$

$

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is8% and cumulative.

2019

2020

2021

Allocation to preferred stock$

$

$

Allocation to common stock$

$

$

Journalize the declaration of the cash dividend at December 31, 2021, under 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 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

Dec. 31

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