Exercise 14-2 (Part Level Submission) 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 107,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2016, $5,675; 2017, $13,500; and 2018, $28,000. (a) Show the allocation of dividends to each dass of stock, assuming the preferred stock dividend la 7% and noncumulative. 2016 2018 Allocation to preferred stock 2017 $ Allocation to common stock $ Click if you would like to show Work for this question: Open Show Work LINK TO TEXT VIDEO: SIMILAR EXERCISE Attempts: 0 of Sused SAVE FOR LATER SUBMIT ANSWER PRINTER VERSION Exercise 14-11 The following accounts appear in the ledger of Horner Inc. after the books are dosed at December 31. Common Stock, no par, $1 stated value, 376,000 shares authorized; 284,000 shares issued Common Stock Dividends Distributable Pald-in Capital in excess of Stated Value-Common Stock Preferred Stock, $5 par value, 8%, 38,500 shares authorized: 29,500 shares issued Retained Earnings Treasury Stock (11,000 common shares) Pald-in Capital in Excess of Par-Preferred Stock $ 284,000 25,500 130,000 147,500 750,000 82,500 350,000 Prepare the stockholders' equity section at December 31, assuming retained earnings is restricted for plant expansion in the amount of $110,000. (Enter account nam not provide descriptive information.) HORNER INC. Balance Sheet (Partial). Exercise 14-15 The following financial information is available for Plummer Corporation. Average common stockholders' equity Dividends paid to common stockholders Dividends paid to preferred stockholders Net Income Market price of common stock 2017 $1,110,000 52,000 25,000 300,000 19 2016 $887,000 33,000 25,000 210,000 15 The weighted average number of shares of common stock outstanding was 78,000 for 2016 and 104,000 for 2017 Calculate earnings per share and return on common stockholders' equity for 2017 and 2016. (Round answers to 2 decimal places, 0.9. 10.500 or 10.50.) 2017 2016 Earnings per share $ Return on common stockholders' equity % 96 Click if you would like to Show Work for this question: Open Show Work