Pharoah Corporation was organized on January 1, 2021. During its first year, the corporation issued 2,000 shares of $50 par value preferred stock and 104,000 shares of $10 par value Lommon stock. At December 31, the company declared the following cash dividends: 2021,$5,600; 2022. $14.400; and 2023 $28,500 (a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative. 2021 2022 2023 $ $ Allocation to preferred stock $ $ $ Allocation to common stock