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2. Graves Corp. has the following number of shares of stock outstanding: Cumulative Preferred stock. 8%. $100 par, 1,000 shares Common stock $10 par 10,000 shares Graves will distribute $44,000 of dividends to the two classes of stockholders this year. Not counting the current year, the preferred stock dividends are two years in arrears. Indicate whether each of the following statements is true or false. [40 points - 10 ea. A. Preferred stockholders will receive $24,000 of cash dividends in the current year. TRUE FALSE B. Common stockholders will receive $36,000 of cash dividend in the current year. TRUE FALSE C. The amount of common dividends per share that stockholders will receive in the current year is $2. TRUE FALSE D. The amount of dividends in arrears is zero after the $44,000 of dividends has been paid. TRUE FALSE