Knudsen Corporation was organized on January 1, 2016. During its first year, the corporation issued 2.100 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, 56,850, 2017, $14.200; and 2016, 527,000 Show the allocation of dividends to each dass of stock, assuming the preferred stock dividend is 76 and non cumulative 2016 2017 2018 Allocation to preferred stock $ $ Allocation to common stock $ $ Click if you would like to show Work for this question Open Show Work LINK TO TEXT VIDEO SIMILAR EXERCISE