QUESTION 24 24. Divine Solutions, Inc. was authorized to issue 50,000 shares of its cumulative 6%, $50 par value preferred stock and 100,000 of its $1 par value common stock. Assume Divine Solutions, Inc. had 5,000 shares of its preferred stock and 30,000 shares of its common stock issued and outstanding at December 31, 2019, 2020 and 2021. Assume further that Divine Solutions, Inc. declared and paid total cash dividends of $0,25,000 and 90,000 during 2019, 2020 and 2021, respectively. Dividends paid to preferred stock in 2019 was: A. $0 B. $15,000 C. $25,000 D. $10,000