Exercise 11-10 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 $10 par value common stock. At December 31, the company dedared the following cash dividends: 2021, $4,500; 2022, $12,700; and 2023, $28,700. 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 fout 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 7,600 23,600 LINK TO TEXT 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 o for amounts.) 2021 2022 2023 Total dividend 4,500 Allocation to preferred stock 4,500 y Policy 2000-202 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons Inr 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 0 for amounts.) 2021 2022 2023 Total dividend 4,500 Allocation to preferred stock 4,500 Remainder to common stock LINK TO TEXT Journalize the declaration of the cash dividend at December 31, 2023, under part (b). (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Dec. 31 Credit