Pelletier Corporation has the following stock outstanding: Preferred Stock $300,000 (10 percent, $15 par, 75,000 shares authorized, 20,000 shares issued and outstanding) Paid-in Capital in Excess of Par, Preferred Stock $40,000 Common Stock $180,000 ($1 par, 300,000 shares authorized, 180,000 shares issued and outstanding) Paid-in Capital in Excess of Par, Common Stock $900,000 Given this information, if Pelletier pays dividends totaling $110,000 during the year, and if the preferred stock is cumulative and the dividends on the preferred stock were one year in arrears as of the beginning of the year, common stockholders will receive dividends of what amount?

	$55,000
	$50,000
	$80,000
	$20,000
	$40,000
	$110,000