Doing Well Corporation has 20,000 shares of 8%, $120 par value cumulative preferred stock and 70,000 shares of $2 par value common stock outstanding at December 31. If the total dividends paid were $270,000, and there were no dividends in arrears on the Preferred Stock, how much will the Preferred and Common stockholders receive, respectively?

a. Preferred = $130,000; Common = $140,000

b. Preferred = $192,000; Common = $78,000

c. Preferred = $135,000; Common = $135,000

d. Preferred = $21,600; Common = $248,400