Please answer question #8 Part C, 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 dass 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 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 for amounts.) 2021 2022 2023 Total dividend $ 6,000 $ 13,000 $ 28,000 Allocation to preferred stock 6,000 8.700 7,350 Remainder to common stock $ $ 0 $ 4,300 GA 20,650 Journalize the declaration of the cash dividend at December 31, 2023, under part (b). (Credit account tities 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 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31