Cullumber Corporation was organized on January 1, 2019. During its first year, the corporation issued 2,100 shares of $50 par value preferred stock and 107,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2019, $6,850; 2020, $14,200; and 2021, $27,000. I Your answer is correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and non 2019 2020 2021 Allocation to preferred stock 6,850 7,350 7,350 Allocation to common stock 6,850 19,650 SHOW LIST OF ACCOUNTS Your answer is partially correct. Try again. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulati 2019 2020 2021 Allocation to preferred stock 6,850 9,450 8,400 Allocation to common stock 4,750 18,600