Guillen Corporation was organized on January 1, 2016. During its first year, the corporation issued 2,000 shares of $50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2016, $5,000; 2017, $12,000; and 2018, $28,000.

Instructions: Assume that the preferred stock dividend is 8% and noncumulative, then the cash dividends allocated to common stockholders in the year 2018 is:

(When writing your answer do not use commas or sign of the dollar. For example, if your answer is $1,500, write it as 1500)

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