A corporation's year-end balance sheet showed the following: 6% preferred stock, $50 par value, cumulative, 30,000 $600,000 shares authorized; 12,000 shares issued Common stock, $10 par value, 3,000,000 shares authorized; 1,950,000 shares issued, 1,920,000 shares outstanding Paid-in capital in excess of par value--Preferred stock Paid-in capital in excess of par value--Common stock Retained earnings Treasury stock (30,000 shares) 19,500,000 60,000 27,000,000 7,650,000 630,000 During the year, the corporation declared and paid a $100,000 cash dividend. If the company's dividends in arrears prior to the current year were $12,000, the corporation's common stockholders would receive

arrears prior to the current year were' $12,000, the corporation's common stockholders would receive sin000 trown Sithow trison