Pharoah Corporation was organized on January 1, 2021. During its first year, the corporation issued 1,900 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: 2021, $5,900; 2022, $13,600; and 2023, $27,500.

(b) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 9% and cumulative.