Younger Corporation's December 31, 2020 balance sheet showed the following:

6% preferred stock, $20 par value, cumulative,

30,000 shares authorized; 20,000 shares issued $ 400,000

Common stock, $10 par value, 3,000,000 shares authorized;

1,950,000 shares issued, 1,920,000 shares outstanding 19,500,000

Paid-in capital in excess of par value preferred stock 60,000

Paid-in capital in excess of par value common stock 28,000,000

Retained earnings 9,650,000

Treasury stock (30,000 shares) 630,000

Younger declared and paid a $85,000 cash dividend on December 15, 2020. If the company's dividends in arrears prior to that date were $24,000, Younger's common stockholders received