Sunland Company was gganized on January $1,2024.$ During its first year, the corporation issued $2,400$ shares of $$50$ par value preferred stock and $150,000$ shares of $$10$ par value common stock. At December $31,$ the company declared the following cash dividends: $2024,$$$5,200$;$2025,$$$11,900$; and $2026,$ $$28,800.$

Current Attempt in Progress

Sunland Company was organized on January $1,2024.$ During its first year, the corporation issued $2,400$ shares of $$50$ par value preferred stock and $150,000$ shares of $$10$ par value common stock. At December $31,$ the company declared the following cash dividends: $2024,$$$5,200$;$2025,$$$11,900$; and $2026,$$$28,800.$

$($a$)$

Your answer is correct.

Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is $5\%$ and noncumulative.