Marion, Inc. has 5,000 shares of 5%, $100 par value, noncumulative preferred stock and 20,000 shares of $1 par value common stock outstanding at December 31, 2012. There were no dividends declared in 2011. The board of directors declares and pays a $55,000 dividend in 2012. What is the amount of dividends received by the common stockholders in 2012?
Answer A. $0
B. $25,000
C. $55,000
D. $30,000