Help System Amur PRINTER VERSION 4 BACK Exercise 14-2 (Part Level Submission) Knudsen Corporation was organized on January 1, 2016. During its first year, the corporation issued 1,900 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: 2016, $5,200; 2017, $13,500; and 2018, $27,000. (a) Your answer is correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative. 2016 2017 2018 Allocation to preferred stock 5,200 5,700 5,700 Allocation to common stock 7,800 21,300 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT VIDEO: SIMILAR EXERCISE DURCES Your answer is partially correct. Try again. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative. 2016 2017 2018 Study Allocation to preferred stock 5,200 7,600 7,600 Allocation to common stock 3,500 19,400 Click if you would like to show Work for this question: Open Show Work Attempts: 1 of 3 used SAVE FOR PRINTER VERSION BACK SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 3 of 3 used (c) Journalize the declaration of the cash dividend at December 31, 2018, under part (b). (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.) Date Account Titles and Explanation Debit Credit Dec. 31 Click if you would like to show Work for this question: Open Show Work Attempts: 0 of 3 used