Exercise 14-2 Knudsen Corporation was organized on January 1, 2016. During its first year, the corporation issued 2,050 shares of $50 par value preferred stock and 102,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2016, $4,625; 2017, $13,500; and 2018, $28,500. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 5% and noncumulative. 2016 2017 2018 Allocation to preferred stock & $ Allocation to common stock $ $ SHOW LIST OF ACCOUNTS Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative. 2016 2017 2018 Allocation to preferred stock & Allocation to common stock Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative. 2016 2017 2018 Allocation to preferred stock ot Allocation to common stock