i know the answers are B and C.

looking for a step by step on how to solve

yhank you

(Answer Questions 3 to 4 using the following information) When Hallmark Corporation was organized in 2017; it immediately issued 10,000 shares of $ 50 par, 4 percent, cumulative preferred stock and 10,000 shares of $10 par common stock. The company's earnings history is as follows: 2017 - Net loss of 18,000 2018 - Net income of $100,000 2019 - Net income of $90,000 The corporation did not pay a dividend in 2017. Assume that the board of directors declares cash dividend of $80,000 at the end of 2018. Required: 3. How much dividend will be paid to preferred stockholders at the end of 2018? A) $ 20,000 B) $ 40,000 C) $65,000 D) None of the above 4. How much dividend will be paid to common stockholders at the end of 2018? A) $ 20,000 B) $ 50,000 C) $40,000 D) None of the above