The shareholders' equity of HS Corporation includes $250,000 of $1 par common stock and $550,000 par value of 7% preferred stock The board of directors of HS declared cash dividends of $65,000 in 2016 after paying $25,000 cash dividends in 2015 and $45.000 in 2014. Required What is the amount of dividends common shareholders will receive in 2016? Dividends