Nords Ltd has 30,000 shares of cumulative preferred 1% stock of $100 par and 200,000 shares of $50 par common stock. In current financial year, the company distributed dividends of $35,000, which of the following is correct?

Select one:

a. $35,000 dividends were paid to Preferred stockholders

b. None of the given options

c. $5,000 dividends were paid to common stockholders

d. $5,000 dividends would be carried forward to future for Preferred stockholders