Vegas Corporation had the following shares outstanding when the board of directors declared a $95,000 cash dividend: $250,000 $3, Preferred shares, 7,000 shares issued and outstanding Common shares, 50,000 shares issued and outstanding Total 500.000 $750,000 What will be the amount of dividend for common shareholders, assuming the preferred shares are cumulative and are one year in arrears. In the prior year there was 6,000 preferred shares outstanding. $56,000 $62,000 $59,000 $55,000