Exercise 14-02a-c Blossom Corporation was organized on January 1, 2019. During its first year, the corporation issued 1,900 shares of $50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2019, $6,150; 2020, $13,600; and 2021, $27,500. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative. Your answer is correct. Show the allocation of dividends to each dass of stock, assuming the preferred stock dividend is 7% and noncumulative. 2019 2021 2020 Allocation to preferred stock 6,150 6,650 6,650 Allocation to common stock 6,950 20,850 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT Your answer is correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative. 2019 2020 2021 Allocation to preferred stock 6,150 9,050 7,600 Allocation to common stock 4,550 19,900