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Blossom Corporation was organized on January 1, 2021. During its first year, the corporation issued 2.050 shares of $50 par value preferred stock and 100,000

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Blossom Corporation was organized on January 1, 2021. During its first year, the corporation issued 2.050 shares of $50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31 , the company declared the following cash dividends: 2021,\$6,000; 2022, \$14,500; and 2023,\$27,000. (a) Your answer is incorrect. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative

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