Question 04 x Your answer is incorrect. Try again. Vaughn Inc. declares a $62,000 cash dividend on December 31, 2020. The required annual dividend on preferred stock is $11,100. Determine the allocation of the dividend to preferred and common stockholders assuming the preferred stock is cumulative and dividends are 1 year in arrears. Allocated to Common Stock Allocated to Preferred Stock Click if you would like to Show Work for this question: Open Show Work