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Sheffeid Corp. was organized on January 1, 2021. During its first year, the corporation issued 2,500 shares of $50 par value preferred stock and 150,000

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Sheffeid Corp. was organized on January 1, 2021. During its first year, the corporation issued 2,500 shares of $50 par value preferred stock and 150,000 shares of $10 par value common stock. At December 31 , the company declared the following cash dividends: 2021 , $5,500;2022,$12,300; and 2023,$27,200 (a) Your answer is correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend 455% and noncumulative. (Do not leave any answer field blank. Enter 0 for amounts.) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and cumulative. (Do not leave any answer field blank. Enter 0 for amounts.)

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