A Corporation Has 10,000 Shares of 10%, $50 Par Noncumulative

A corporation has 10,000 shares of 10%, $50 par noncumulative preferred stock outstanding and 20,000 shares of no-par common stock outstanding. At the end of the current year, the corporation declares a dividend of $120,000.
What is the dividend per share for preferred shares and for common shares?

A) The dividend per share is $5.00 to preferred shares and $3.50 to common shares.
B) The dividend per share is $6.67 to preferred shares and $1.50 to common shares.
C) The dividend per share is $1.00 to preferred shares and $6.75 to common shares.
D) The dividend per share is $50.00 to preferred shares and $1.00 to common shares.