CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 11-10 (Part Level Submission) Concord Corporation was organized on January 1, 2021. During its first year, the corporation issued 1,700 shares of $50 par value preferred stock and 120,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $4,500; 2022, $12,700; and 2023, $28,700. (a) Your answer is correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative. (Do not leave any answer field blank. Enter o for amounts.) 2021 2022 2023 Total dividend 4500 12700 28700 Allocation to preferred stock 4500 5100 5100 Remainder to common stock 0 7600 23600 SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT Attempts: 3 of 5 used Attempts: 3 of 5 used (b) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and cumulative. (Do not leave any answer field blank. Enter o for amounts.) 2021 2022 2023 Total dividend Allocation to preferred stock Remainder to common stock $ SHOW LIST OF ACCOUNTS LINK TO TEXT Attempts: 0 of 5 used