Blossom Corporation was organized on January 1, 2019. During its first year, the corporation issued2,050shares of $50par value preferred stock and102,000shares of $10par value common stock. At December 31, the company declared the following cash dividends: 2019, $4,625; 2020, $13,500; and 2021, $28,500.

(a)

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is5% and noncumulative.

2019

2020

2021

Allocation to preferred stock

$

$

$

Allocation to common stock

$

$

$