Marigold Corp. was organized on January 1, 2021. During its first year, the corporation issued 1,900 shares of $50 par value preferred stock and 125,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $4,100; 2022, $12,700; and 2023, $29,400.

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 5% and noncumulative. (Do not leave any answer field blank. Enter 0 for amounts.)

		2021		2022		2023
Total dividend		$		$		$
Allocation to preferred stock
Remainder to common stock		$

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and cumulative.

		2021		2022		2023
Total dividend		$		$		$
Allocation to preferred stock
Remainder to common stock		$

Journalize the declaration of the cash dividend at December 31, 2023, under part (b).

Account Titles and Explanation

Date Debit Credit

Dec. 31