Sheridan Corporation was organized on January 1, 2021. During its first year, the corporation issued 2.000 shares of $50 par valu preferred stock and 105,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $4,500, 2022, $13,500; and 2023, $27.500. (a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative Allocation to preferred stock Allocation to common stock eTextbook and Media List of Accounts 2021 2022 2023 Attempts: 0 of 3 used Submit Answer