Which of the following is true if a company misses a dividend payment on cumulative preferred stock?

Only one is true

a) The current preferred stock dividend payment must be made before a common stock dividend payment can be made.

b) The current common stock dividend payment must be made before a preferred stock dividend payment can be made.

c) The current and past missed preferred stock dividend payments must be made before a common stock dividend payment can be made.

d) None of the above is true.