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Wildhorse Corporation was organized on January 1, 2021. During its first year, the corporation issued 2,100 shares of $50 par value preferred stock and 100,000

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Wildhorse Corporation was organized on January 1, 2021. During its first year, the corporation issued 2,100 shares of $50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31 , the company declared the following cash dividends: 2021, $5,800;2022,$14,100; and 2023, $29,000. (a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative

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