Sandhill Corporation was organized on January 1, 2021. During its first year, the corporation issued 2,100 shares of $50 par value preferred stock and 110,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $6,000; 2022, $14,000; and 2023, $27.500. (a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative 2021 2022 Allocation to preferred stock $ $ Allocation to common stock $ 2023