Pratt Corporation has the following shares of stock outstanding at the end of 2016:

Preferred stock, 6% cumulative, $10 stated value, 10,000 shares

Common stock, $10 par value, 50,000 shares

Dividends were not paid to preferred stockholders in 2014 and 2015. If Pratt Corporation pays $60,000 in total dividends in 2016, how much will each class of stock receive?

A.

Preferred		Common
$ -0-		$60,000

B.

Preferred		Common
$ 6,000		$54,000

C.

Preferred		Common
$18,000		$42,000

D.

Preferred		Common
$12,000		$48,000