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ABC Company began operations in January, 2028, by issuing 8,500 shares of 9%, cumulative, $56 par value preferred stock and 16,000 shares of $5 par

ABC Company began operations in January, 2028, by issuing 8,500 shares of 9%, cumulative, $56 par value preferred stock and 16,000 shares of $5 par value common stock. ABC Company paid $31,000 of dividends in 2028, they paid $45,000 of dividends in 2029, they paid $50,000 of dividends in 2030, they paid $28,000 of dividends in 2031, and they paid dividends of $65,000 in 2032. Calculate the amount of the $65,000 dividend paid in 2032 that was paid to common stockholders.

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