Vaughn Manufacturing was organized on January 1, 2021. During its first year, the corporation issued 2,400...

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Vaughn Manufacturing was organized on January 1, 2021. During its first year, the corporation issued 2,400 shares of $50 par value preferred stock and 125,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $5,900; 2022, $12,000; and 2023, $27,500. (a) Your answer is partially correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 5% and noncumulative. (Do not leave any answer field blank. Enter O for amounts.) 2021 2022 2023 27500 Total dividend 5900 $ 12000 Allocation to preferred stock 6000 6000 6000 Remainder to common stock $ 125900 $ 132000 $ 27500 Vaughn Manufacturing was organized on January 1, 2021. During its first year, the corporation issued 2,400 shares of $50 par value preferred stock and 125,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $5,900; 2022, $12,000; and 2023, $27,500. (a) Your answer is partially correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 5% and noncumulative. (Do not leave any answer field blank. Enter O for amounts.) 2021 2022 2023 27500 Total dividend 5900 $ 12000 Allocation to preferred stock 6000 6000 6000 Remainder to common stock $ 125900 $ 132000 $ 27500