Question 19 1 pts Which of the following statements is correct? Preferred stock does not represent an ownership interest in the corporation, but as the name implies, preferred stock receives no preferential treatment over common stock. The payments of preferred stock dividends are contractual obligations. All the answers are correct. Preferred stock is not legally a form of equity and preferred stock dividends are paid by the issuer with before-tax dollars. Common stock dividends are declared by the board of directors, and a board may or may not decide to pay a cash dividend at a particular time