Question $7$:

Adham Corporation was organized on January $1,2019.$ During its first year, the

corporation issued $60,000$ shares of $$50$ par value preferred stock and $220,000$ shares

of $$5$ par value common stock. At December $31,$ the company declared the following

cash dividends:

Required:

Show the allocation of dividends to each class of stock, assuming that the

preferred stock is $9\%$ and not cumulative.

Show the allocation of dividends to each class of stock, assuming that the

preferred stock is $10\%$ and cumulative.