PRINTER VERSION BACK NEXT 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) 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 $ $ $ Allocation to common stock $ $ $ Click if you would like to Show Work for this question: Open Show Work Attempts: 0 of 3 used