Quest 5 Knudsen Corporation was organized on January 2016. During its first year, the corporation issued 2,050 shares of $50 par value preferred stock and 102,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2016, $4,625; 2017, $13,500; and 2018, $28,500. Your answer is partially correct show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 5% and noncumulative. Allocation to preferred stock Allocation to common stock sHow LIST OR ACCOUNTS SHow SOLUTION sHow ANSWER LINK TO TEXT empts: 1 of 1 used Att w (b) assuming the preferred stock dividend is 8% and cumulative. Show the allocation of dividends to each class of stock