The shareholders' equity of HS Corporation includes $400,000 of $1 par common stock and $700,000 par of 7% cumulative preferred stock. The board of directors of HS declared cash dividends of $80,000 in 2018 after paying $40,000 cash dividends in 2017 and $60,000 in 2016. Required: What is the amount of dividends common shareholders will receive in 2018? Dividends