Q4. Exercise 14-02 Sunland Corporation was organized on January
1, 2019. During its first year, the corporation issued 1,950 shares
of $50 par value preferred stock and 110,000 shares of $10 par
value common stock. At December 31, the company declared the
following cash dividends: 2019, $5,325; 2020, $13,800; and 2021,
$28,500.
a. Show the allocation of dividends to each class of stock,
assuming the preferred stock dividend is 7% and noncumulative.
b. Show the allocation of dividends to each...