Yates, Inc. Has $40,000 shares of $10 par value common stock and 20,000 shares of $10 par value, 6% cumulative, nonparticipating preferred stock outstanding. There is currently one year of preferred dividends in arrears. Assuming that Yates wishes to distribute $108,000 as dividends, the common stockholders will receive:

correct answer is $84,000

can you please explain how?