At December 31, 2017, Lebron Company distributes $50,000 of cash dividends. Its outstanding common stock has...

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At December 31, 2017, Lebron Company distributes $50,000 of cash dividends. Its outstanding common stock has a par value of $400,000, and its 6% preferred stock has a par value of $100,000 at December 31, 2017. Required (a) Show the allocation of dividends to each class of stock, assuming that the preferred stock dividend is 6% and not cumulative. (b) Show the allocation of the dividends to each class of stock, assuming the preferred Stock dividend of 6% is cumulative and Lebron Company did not pay any dividends on the preferred stock in the preceding 2 years. (c) Journalize the declaration of the cash dividend at December 31, 2017, assuming the Requirements in part (b). At December 31, 2017, Lebron Company distributes $50,000 of cash dividends. Its outstanding common stock has a par value of $400,000, and its 6% preferred stock has a par value of $100,000 at December 31, 2017. Required (a) Show the allocation of dividends to each class of stock, assuming that the preferred stock dividend is 6% and not cumulative. (b) Show the allocation of the dividends to each class of stock, assuming the preferred Stock dividend of 6% is cumulative and Lebron Company did not pay any dividends on the preferred stock in the preceding 2 years. (c) Journalize the declaration of the cash dividend at December 31, 2017, assuming the Requirements in part (b).

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