: Question 7 Adham Corporation was organized on January 1, 2019. During its first year, the corporation issued 40,000 shares of $50 par value preferred stock and 200,000 shares of $5 par value common stock. At December 31, the company declared the following cash dividends: December 2017 December 2018 December 2019 $80,000 195,000 300,000 Required: 1. Show the allocation of dividends to each class of assuming that the preferred stock is 9% and not cumulative. 2. Show the allocation of dividends to each class of stock, assuming that the preferred stock is 10% and cumulative