Kingbird Ridge Corporation was organized on January 1, 2018. During its first year, the corporation issued 41,000 shares of $5 par value preferred stock and 450,000 shares of $1 par value common stock. At December 31, the company declared the following cash dividends: 2018 2020 2019 $33,000 (a) 2018 In Progress 2019 $8,100 Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and not cumulative. 2020 $69.000 $ Preferred $ Common $ Total

Kingbird Ridge Corporation was organized on January 1,2018, During its first year, the corporation issued 41,000 shares of $5 par value preferred stock and 450,000 shares of $1 par value common stock. At December 31, the company declared the following cash dividends: \begin{tabular}{lr} 2018 & $8,100 \\ 2019 & $33,000 \\ 2020 & $69,000 \end{tabular} (a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and not cumulative. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and cumulative. Attempts: 0 of 1 used Joumalize the declaration of the cash dividend at December 31, 2020 using the assumption of part (b). (Credit account titles are automatically indented when amount is entered. Do not indent manuolly. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries)