Whiting, Inc. has outstanding 600,000 shares of $2 par common stock and 120,000 shares of no-par 6% preferred stock with a stated value of $5. Dividends have been paid in every year except the past two years and the current year. The board of directors declared a dividend of $270,000 at the end of the current year Assuming the preferred stock is cumulative and participating, how much will the common stockholders receive? $162,000. $132,000. $138,000. $72,000