Mathelsea Corporation has 9,000 shares of 8%, $10 par cumulative preferred stock and 48,000 shares of common stock outstanding. Mathelsea declared no dividends in 2015 and had no dividends in arrears prior to 2015. In 2016, Mathelsea declares a total dividend of $51,000. How much of the dividends go to the common stockholders? $36, 600 $51,000 $43, 800 None; it all goes to preferred stockholders