Atlantis Corporation has 15,000 shares of 15%, $78.00 par noncumulative preferred stock outstanding and 22,000 shares of no - par common stock outstanding. At the end of the current year, the corporation declares a dividend of $190,000. How is the dividend allocated between preferred and common stockholders? A. The dividend is allocated $77,027 to preferred stockholders and $112,973 to common stockholders. B. The dividend is allocated $257,400 to preferred stockholders and $67,400 to common stockholders. C. The dividend is allocated $175,500 to preferred stockholders and $14,500 to common stockholders. D. The dividend is allocated $9,304 to preferred stockholders and $112,973 to common stockholders. On July 1, 2019, Montana Company has bonds with balances as shown below. Bonds Payable 69,000 Discount on Bonds Payable 3,200 If the company retires the bonds for $70,150, what will be the effect on the income statement? A. no effect on net income B. gain on retirement of $4,350 C. sales revenue of $65,800 D. loss on retirement of $4,350