A corporation had the following stock outstanding when the company's board of directors declared a $95.000 cash dividend during the current year: Preferred stock, $100 par, 6%, 5,000 shares issued........$ 500.000 Common stock, $10 par, 75,000 shares issued............. 750,000 Total........... $1,250,000 Allocate the cash dividend between the preferred and common stockholders assuming the preferred stock is cumulative and nonparticipating and dividends are one year in arrears