35) Burkert Company has 50,000 shares of $1 par value common stock issued and outstanding. The company also has 9000 shares of $100 par value, 4% cumulative preferred stock outstanding. Burkert did not pay the preferred dividends in 2016 and 2017. For the common stockholders to receive a dividend in 2018, the board of directors must declare dividends in excess of A) $108,000. B) $72,000 C) $36,000 D) $144,000