A corporation has 22,000 shares of 15?%, $60 par cumulative preferred stock outstanding and 27,000 shares of no-par common stock outstanding. Dividends of $31,500 are in arrears. At the end of the current? year, the corporation declares a dividend of $234,000. How is the dividend allocated between preferred and common? stockholders?

A. The dividend is allocated $ 4,500 to preferred stockholders and $229,500 to common stockholders.

B. The dividend is allocated $198,000 to preferred stockholders and $36,000 to common stockholders.

C. The dividend is allocated $ 229,500 to preferred stockholders and $4,500 to common stockholders.

D. The dividend is allocated $ 234,000 to preferred stockholders and no dividend is paid to common stockholders.