A corporation with both preferred stock and common stock outstanding has a substantial credit balance in its retained earnings account at the beginning of the current fiscal year. Although net income for the current year is sufficient to pay the preferred dividend of $$150,000$ each quarter and a common dividend of $$90,000$ each quarter, the board of directors declares dividends only on the preferred stock. In $2-3$ paragraphs suggest possible reasons for passing the dividends on the common stock.