Your answer is partially correct. 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 (b) eTextbook and Media List of Accounts Save for Later 2021 5200 0 " 2022 5700 $ 2023 5700 7800 $ 21300 Attempts: 2 of 3 used Submit Answer The parts of this question must be completed in order. This part will be available when you complete the part above.) Question 2 of 6 < > -/15 E On January 1, 2022, Crane Corporation had $1,420,000 of common stock outstanding that was issued at par. It also had retained earnings of $740,500. The company issued 40,500 shares of common stock at par on July 1 and earned net income of $410,000 for the year. Journalize the declaration of a 15% stock dividend on December 10, 2022, for the following independent assumptions. (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.) a. Par value is $10, and market price is $18. b. Par value is $5, and market price is $22. No. Account Titles and Explanation Debit Credit MacBook Pro e Question 2 of 6 < > Entry for the account tries and enter for the amounts a. Par value is $10, and market price is $18. b. Par value is $5, and market price is $22. No. Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Debit Credit -/15 Attempts: 0 of 3 used Submit Answer On October 1, Wildhorse Corporation's stockholders' equity is as follows. Common stock, $7 par value $539,700 Paid-in capital in excess of par-common stock 27,000 Retained earnings 173,000 Total stockholders' equity $739,700 On October 1, Wildhorse declares and distributes a 10% stock dividend when the market price of the stock is $15 per share. (a) Compute the par value per share (1) before the stock dividend and (2) after the stock dividend. Par value before the stock dividend $ Par value after the stock dividend $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer On January 1, 2022, Oriole Corporation had retained earnings of $534,000. During the year, Oriole had the following selected transactions. 1. Declared cash dividends $114,000. 2. Corrected overstatement of 2021 net income because of inventory error $37,000. 3. Earned net income $342,000. 4. Declared stock dividends $57,000. Determine the retained earnings balance at the end of the year. Retained earnings eTextbook and Media Save for Later MacBook Pro Attempts: 0 of 3 used Submit