Miller, Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding. There were no dividends declared in 2018. The board of directors declared and paid dividends of $50,000 each in 2019 and 2020.
What is the amount of dividends received by the common stockholders in 2020?

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The Answer of Miller, Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding. There were no dividends declared in 2018. The board of directors declared and paid dividends of $50,000 each in 2019 and 2020.
What is the amount of dividends received by the common stockholders in 2020?