CraneCorporation was organized on January 1, 2019. During its first year, the corporation issued2,050shares of $50par value preferred stock and100,000shares of $10par value common stock. At December 31, the company declared the following cash dividends: 2019, $6,075; 2020, $13,900; and 2021, $28,000.

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is7% and noncumulative.

2019 2020 2021

Allocation to preferred stock 6075 7175 7175

Allocation to common stock 0 6725 20825

question- Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is8% and cumulative.

2019 2020 2021

Allocation to preferred stock ? ? ?

Allocation to common stock ? ? ?