Blue Spruce Corp. was organized on January 1, 2021. During its first year, the corporation issued 1,700 shares of $50 par value preferred stock and 110,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $4,300; 2022, $13,000; and 2023, $29,500. (a) Your Answer Correct Answer Your answer is partially correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative. (Do not leave any answer field blank. Enter O for amounts.) Total dividend Allocation to preferred stock Remainder to common stock $ 2021 2022 2023 4300 13000 $ 29500 4300 5950 5950 0 7050 $ 23350