ABC Company's outstanding stock consists of (a) 50,000 shares of 10%, $12 par value preferred stock and (b) 300,000 shares of common stock with $1 par value. During its first three years of operations, the company declared and paid the following cash dividends: 2017................. $ 24,000 2018... 36,000 2019........ 177,000 Required: Compute the amount of dividends paid in 2019 to common stock assuming that the preferred stock is fully participating and cumulative