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, 2014, and December 31, 2015. The board of directors declared and paid a $25,000 dividend in 2014. In 2015, $55,000 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2015?

Preferred Common

a. $0 $55,000

b. $25,000 $30,000

c. $27,500 $27,500

d. $35,000 $20,000