The Following Information Is Provided for Slickers, Inc

Multiple Choice

The following information is provided for Slickers, Inc. for year 2016: • Preferred stock, 7%, $50 par value, 1,000 shares issued and outstanding
• Common stock, $100 par value, 2,000 shares issued and outstanding
• Dividends in arrears for 2014 and 2015
• Total dividends declared and paid during 2016 totaled $25,000
How much of the dividend was paid to the preferred stockholders during 2016 assuming the preferred stock is cumulative?

A) $3,500.
B) $7,000.
C) $10,500.
D) $14,500.