Sandhill Corporation was organized on January 1, 2019. During its first year, the corporation issued 1,900 shares of $50 par value preferred stock and 109,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2019, $5,950; 2020, $13,800; and 2021, $28,000.

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Your answer is partially correct.

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative.

		2019		2020		2021
Allocation to preferred stock		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
Allocation to common stock		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount

List of Accounts

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Your answer is partially correct.

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative.

		2019		2020		2021
Allocation to preferred stock		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
Allocation to common stock		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount

List of Accounts

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Journalize the declaration of the cash dividend at December 31, 2021, under part (b). (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31	enter an account title for the journal entry on December 31	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on December 31	enter a debit amount	enter a credit amount