13. Sheridan, Inc. has 25,000 shares of 7%, $100 par value, non-cumulative preferred stock and 48,200 shares of $1 par value common stock outstanding at December 31, 2018. There were no dividends declared in 2017. The board of directors declares and pays a $244,000 dividend in 2018. What is the amount of dividends received by the common stockholders in 2018? a. $0 b. $69,000 c. $175,000 d. $244,000 14. Cork Inc. declared a $160,000 cash dividend. It currently has 6,000 shares of 6%, $100 par value cumulative preferred stock outstanding. It is two years in arrears on its preferred stock. How much cash will Cork distribute to the common stockholders? a. $124,000. b. $88,000. c. $72,000. d. $52,000