Oriole Corporation was organized on January 1, 2021. During its first year, the corporation issued 1,950 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: 2021, $5,000; 2022, $13,900; and 2023, $27,000. (a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative. Allocation to preferred $ stock Allocation to common stocki eTextbook and Media List of Accounts Save for Later 2021 2022 $ S $ 2023 Attempts: 0 of 3 used Submit Answer