Use the Following Information for Questions 70-72

Multiple Choice

Use the following information for questions 70-72.
Riga Ltd. has outstanding 100,000 no par common shares and 20,000 no par, $ 0.40, preferred shares issued at $ 5 each. The preferred shares are cumulative and non-participating. Dividends have been paid every year except the past two years and the current year.
-The Common Shares account currently shows a balance of $ 200,000. Assuming that $ 61,000 will be distributed as a dividend in the current year, and the preferred shares are also fully participating, how much will the common shareholders receive?

A) $ 37,000
B) $ 30,000
C) $ 31,000
D) $ 16,000