Sunland Corporation was organized on January 1, 2021. During its first year, the corporation issued 1,900 shares of $50 par value preferred stock and 108,000 shares of $10 par value common stock. At December 31, the company declared the following cash. dividends: 2021, $5,200; 2022, $14,200; and 2023, $27,000. (a) Your answer is partially correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative. 2021 2022 2023 Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative. Allocation to preferred stock Allocation to common stock 2021 5200 2022 14200 $ 14200 2023 9000 10000 (D) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative. Allocation to preferred $ stock Allocation to common stock 2021 2022 2023 $ (c) Journalize the declaration of the cash dividend at December 31, 2023, 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 O for the amounts.) Date Account Titles and Explanation Dec. 31 Debit Credit