Jacklie Syndicate Began Operations on January 1,20X3 $\quad$ $\quad$

Jacklie Syndicate began operations on January 1,20X3.The company has the following items included in the stockholders' equity section of its balance sheet on December 31,20X3 and December 31,20X4.
8% Preferred Stock,$100 par,100,000 shares authorized,
25,000 shares issued and outstanding $\quad$ $\quad$ $\$ 2,500,000$
Common Stock,$3 par,500,000 shares authorized;
150,000 shares issued and outstanding $\quad$ $\quad$ $\quad$ $\quad$ $450,000$
Additional paid-in capital $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $2,250,000$
Total dividends declared and paid were
$\begin{array}{cl}\text { during } 20 \times 3 & \$ 170,000 \\\text { during } 20 \times 4 & 210,000 \\\text { during } 20 \times 5 & 240,000\end{array}$
If Jacklie Syndicate's preferred stock were noncumulative,how much of the 20X4 dividends would have been distributed to

A) $\begin{array}{ll}\underline{ \text { Preferred Stock} }& \underline{ \text { Common Stock }}\\\$ 110,526 &\$ 99,474 \\\end{array}$

B) $\begin{array}{lccc}\underline{ \text { Preferred Stock } }& \underline{ \text { Common Stock }}\\\$ 100,962& \$109,038 \\\end{array}$

C) $\begin{array}{lccc}\underline{ \text { Preferred Stock } }& \underline{ \text { Common Stock }}\\\$ 2,000 & \$208,000 \\\end{array}$

D) $\begin{array}{lccc}\underline{ \text { Preferred Stock} } & \underline{ \text { Common Stock }}\\\$ 200,000 & \$ 10,000 \\\end{array}$

E) $\begin{array}{lccc}\underline{ \text { Preferred Stock } }&\underline{ \text { Common Stock }}\\\$ 210,000 & \$0 \\\end{array}$