Atlantis Corporation Has 12,000 Shares of 14%,$78 Par Noncumulative Preferred

Atlantis Corporation has 12,000 shares of 14%,$78 par noncumulative preferred stock outstanding and 29,000 shares of no-par common stock outstanding.At the end of the current year,the corporation declares a dividend of $188,000.How is the dividend allocated between preferred and common stockholders?

A) The dividend is allocated $6023 to preferred stockholders and $132,976 to common stockholders.
B) The dividend is allocated $131,040 to preferred stockholders and $56,960 to common stockholders.
C) The dividend is allocated $55,024 to preferred stockholders and $132,976 to common stockholders.
D) The dividend is allocated $316,680 to preferred stockholders and $128,680 to common stockholders.