TRACK NEX Exercise 14-02 a-c (Part Level Submission) Sheridan Corporation was organized on January 1, 2019. During its first year, the corporation issued 1,950 shares of $50 par value preferred stock and 110,000 shares of $10 per value common stock. At December 31, the company declared the following cash dividends: 2019, $6,325; 2020, $13,900; and 2021, $28,500 Your answer is 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 6325 6825 6825 Allocation to common stock 7075 21675 Click if you would like to Show Work for this questioni Open Show Work (b) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 9% and cumulative. 2019 2020 2021 Allocation to preferred stock Allocation to common stock Click if you would like to Show Work for this question: Open Show Work