Sikkema, Inc. began business on January 1, 2018 (c-corp). Their corporate charter allows the issuance of a maximum of 5,000,000 shares of $1 par value common stock. They can also issue a maximum of 50,000 shares of 9% noncumulative, $100 par value preferred stock. They just completed their most recent year, 12/31/19. On 12/30/19, the board voted to pay a total of $400,000 in dividends (common and preferred). They have the following balances in their equity accounts, after closing out net income and recording dividends payable: Common stock ($1 par value) $ 1,400,000 Preferred stock ($100 par value) $ 150,000 Additional paid-in capital (common & preferred) $ 22,500,000 Retained earnings $ 21,875,000 Treasury stock - 50,000 common shares @ $50/share 2,500,000 Questions Based on the above information, answer the following questions: A. How many shares of common stock are outstanding at 12/31/19? B. How many shares of preferred stock are outstanding at 12/31/19? C. If the balance of Retained Earnings was $ 18,000,000 at 12/31/18, what was the net income for the year-ended 12/31/19? For the year-ended 12/31/19, what amount of dividends (total) were paid $ to Preferred shareholders Common shareholders b. A. BEST