Blue Spruce Corp. was organized on January 1, 2024. 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: 2024,$4,300;2025,$13,000; and 2026,$29,500 (a) Your answer is correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative