Concord Corporation has 6500 shares of 4%, $100 par value, cumulative preferred stock and 65000 shares of $1 par value common stock outstanding at December 31, 2017. If the board of directors declares a $16250 dividend, the

1.16250 will be held as restricted retained earnings and paid out at some future date.

2.preferred stockholders will receive 1/10th of what the common stockholders will receive.3.

3.preferred stockholders will receive the entire $16250.

4.preferred stockholders will receive $7250 and the common stockholders will receive $7250.

which of these 4 answers are correct?