The following elements of stockholders’ equity are adapted from the balance sheet of Sanders Corporation:

Stockholders’ Equity

Preferred Stock, cumulative, $4 par (Note 7), 40,000 shares issued
and outstanding................................................................................................$ 160,000
Common Stock, $0.40 par, 115,000 shares issued and outstanding.............600,000

Sanders Corporation paid no preferred dividends in 2018 but paid the designated amount of cash dividends per share to preferred shareholders in all prior years.

Requirement

Compute the dividends to preferred and common shareholders for 2019 if total dividends are $40,000 in 2019.