Please answer problem #8, SHOWING ALL WORK ACCORDINGLY. Thank you!

Windsor, Inc. was organized on January 1, 2021. During its first year, the corporation issued 2,100 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, $6,000; 2022, $13,000; and 2023. $28,000. (a) Your answer is correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative. (Do not leave any answer field blank. Enter O for amounts.) 2021 2022 2023 Total dividend 6.000 $ 13,000 $ 28.000 Allocation to preferred stock 6,000 6,300 6,300 Remainder to common stock 0 6.700 21.700 (b) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 796 and cumulative. (Do not leave any answer field blank. Enter for amounts.) 2021 2022 2023 Total dividend $ Allocation to preferred stock Remainder to common stock $