Stockable, Inc. began business on January 1, 2018 by issuing 100,000 shares of $1 par value common stock and 1,000 shares of 6%, noncumulative, $100 par value preferred stock. No dividends were declared in 2018. In 2019, Stockable declared and paid a $0.50 dividend to its common stockholders. Which of the following is true? Stockable, Inc. has no legal obligation to pay a dividend to preferred stockholders in 2018. If there are enough dividends remaining after the common stockholders receive $0.50 per share, the preferred stockholders will be paid. A liability for dividends owed to preferred stockholders must be recorded in 2018