A corporation has 18,000 shares of 17%, $50.00 par cumulative preferred stock outstanding and 33,000 shares of no par common stock outstanding. Preferred dividends of $36,500 are in arrears. At the end of the current year, the corporation declares a dividend of $212,000. How is the dividend allocated between preferred and common stockholders? O O A. The dividend is allocated $22,500 to preferred stockholders and $189,500 to common stockholders. B. The dividend is allocated $212,000 to preferred stockholders and no dividend is paid to common stockholders. O C. The dividend is allocated $189,500 to preferred stockholders and $22,500 to common stockholders. OD. The dividend is allocated $153,000 to preferred stockholders and $59,000 to common stockholders