Show the allocation of dividends to each class of stock

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Question - Windsor Ridge Corporation was organized on January 1, 2018. During its first year, the corporation issued 46,000 shares of $5 par value preferred stock and 480,000 shares of $1 par value common stock. At December 31, the company declared the following cash dividends:

2018 $9,000

2019 $33,000

2020 $66,500

Required - Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and cumulative.

Reference no: EM133125234

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