Suge Knight Corp. has 10,000 shares outstanding of its $5 par value common stock. Knight also has 7,000 shares outstanding of its 8%, $75 par value, cumulative preferred stock. If Knight pays $95,000 in dividends this year, how much will the common and preferred shareholders receive (Knight did not pay a dividend last year)?

Suge Knight Corp. has 10,000 shares outstanding of its $5 par value common stock. Knight also has 7,000 shares outstanding of its 8%, $75 par value, cumulative preferred stock. If Knight pays $95,000 in dividends this year, how much will the common and preferred shareholders receive (Knight did not pay a dividend last year)? Common $84,000; Preferred $11,000 O Common $11,000; Preferred $84,000 Common $53,000; Preferred $42,000 Common $0; Preferred $95,000