Sarasota Corp. had $100,000 of 7%, $20 par value preferred stock and 12,000 shares of $25 par value common stock outstanding throughout 2020. (a) Your Answer Correct Answer (Used) Assuming that total dividends declared in 2020 were $64,000, and that the preferred stock is not cumulative but is fully participating, common stockholders should receive 2020 dividends of what amount? Common stockholders should receive $ 48,000 (b) Assuming that total dividends declared in 2020 were $64,000, and that the preferred stock is fully participating and cumulative with preferred dividends in arrears for 2019, preferred stockholders should receive 2020 dividends totaling what amount? Preferred stockholders should receive $