Bodkin, Inc. has 5,000 shares of 5%, $100 par value, noncumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2016, and December 31, 2017. The board of directors declared and paid a $25,000 dividend in 2016. In 2017, $55,000 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2017? Select one: a. Preferred. Common $27,500 $27,500 b. Preferred Common $0 $55,000 c. Preferred Common $25,000 $30,000 d. Preferred Common $35,000 $20,000