ACCCOUNTING

At December 31 2008 Lopez Ltd has 2,000, 5%, cumulative preference shares issued at $50 each and 50,000 ordinary shares. There was no change in the issued shares in 2009. The board of directors declared and paid a $4,000 dividend in 2008. In 2009, $20,000 of dividends are declared and paid. What dividends are received by the preference and ordinary shareholders in 2009? O a. Preference$14,000 Ordinary$6,000 O b. $Preference10,000 Ordinary$10,000 O c. Preference$6,000 Ordinary$14,000 O d. Preference$20,000 Ordinary$0