At December 31, 2021 and 2022, Velasco Corp had outstanding 2,000 shares of Php1,000 oar value, 6% cumulative preferred stock and 10,000 shares of Php100 par value common stock. At December 31, 2021, dividends in arrears on the preferred stock were Php60,000. Cash dividends declared in 2022 totaled Php220,000. What amounts were payable on preferred stockholders