Concord Corporation was organized on January 1, 2021. During its first year, the corporation issued 1.700 shares of $50 par value preferred stock and 120,000 shares of 510 par value common stock At December 31, the company declared the following cash dividends: 2021, $4,500; 2022 $12.700; and 2023. $28,700. a (a) Your answer is correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative. (Do not leave any answer field blank. Enter O for amounts.) 2021 2022 2023 Total dividend 4,500 $ 12,700 28.700 Allocation to preferred stock 4,500 5.100 5,100 Remainder to common stock $ 0 9.600 $ 23,600 eTextbook and Media List of Accounts Attempts: 3 of 5 used Your answer is partially correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and cumulative. (Do not leave any answer field blank. Enter Ofor amounts.) 2021 2022 2023 Total dividend 4500 $ 12.700 $ 28,700 Allocation to preferred stock 4.500 7200 5,950 Remainder to common stock 0 5.500 $ 32.750 e Textbook and Media Assistance Used List of Accounts Save for Later Attempts: 4 of 5 used Submit Answer (c) The parts of this question must be completed in order. This part will be available when you complete the part above