Arm, Inc., has 30,000 shares of 5%,$100 par value, noncumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31,2013 . If the board of directors declares a $200,000 dividend, the preferred stockholders will receive 1/10th of what the common stockholders will receive. preferred stockholders will receive the entire $200,000. Common stock will receive $50,000 preferred stockholders will receive $60,000 and the common stockholders will receive $140,000