A corporation has 16,000 shares of 19%, $60 par cumulative preferred stock outstanding and 33,000 shares of no- par common stock outstanding. Preferred dividends of $37,500 are in arrears. At the end of the current year, the corporation declares a dividend of $236,000. How is the dividend allocated between preferred and common stockholders? A. The dividend is allocated $182,400 to preferred stockholders and $53,600 to common stockholders. B. The dividend is allocated $219,900 to preferred stockholders and $16,100 to common stockholders. C. The dividend is allocated $16,100 to preferred stockholders and $219,900 to common stockholders. D. The dividend is allocated $236,000 to preferred stockholders and no dividend is paid to common stockholders