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.

Part 2. - Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative.

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. Your answer is partially correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative