Crane Corporation was organized on January $1,2021.$ During its first year, the corporation issued $2,100$ shares of $$50$ par value preferred stock and $108,000$ shares of $$10$ par value common stock. At December $31,$ the company declared the following cash dividends: $2021,$$$5,000$;$2022,$$$14,100$; and $2023,$$$28,000.$

$($a$)$

Your answer is correct.

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is $6\%$ and noncumulative.

$\backslash$table$[[,2021,2022,,2023],[\backslash$table$[[$Allocation to preferred$],[$stock$]],$$$,$$$,$$$,],[\backslash$table$[[$Allocation to common$],[$stock$]],$$$,$$$,$$$,],[$eTextbook and Media,,,,$],[$List of Accounts,,,,$]]$

Attempts: $1$ of $5$ used

$($b$)$

Your answer is incorrect.

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is $8\%$ and cumulative.