Not sure how to use the percentages for the preferred stock.

Exercise 14-02 a-c Crane Corporation was organized on January 1, 2019. During its first year, the corporation issued 2,050 shares of $50 par value preferred stock and 105,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends . 2019, $5,975; 2020, $14,400; and 2021, $27,500. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative. 2019 Allocation to preferred stock Allocation to common stock SHOW LIST OF ACCOUNTS LINK TO TEXT 2020 2021 Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is g% and cumulative. 2019 Allocation to preferred stock Allocation to common stock SHOW LIST OF ACCOUNTS LINK TO TEXT 2020 2021 Journalize the declaration of the cash dividend at December 31, 2021, under part (b). (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Dec. 31 Click if you would like to Show Work for this question: SHOW LIST OF ACCOUNTS Debit Open Show Work Credit