Jordan Company was organized on January 1, 2015. During its first year, the corporation issued 2000 shares of JD 50 par value preferred stock and 100000 shares of JD 10 par value common stock. At December 31, the company declared the following cash dividends: 2015, JD 6000, 2016, JD 12000, and 2017, JD 28000. Instructions: 1- Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and not cumulative? 2- Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative? 3- Journalize the declaration of the cash dividend at December 31, 2017, under part (2)?