Francisco Company has 50,000 shares of $100 par value, 8% cumulative preferred stock and 160,000 shares of $60 par value common stock. Francisco declares and pays cash dividends amounting to $440,000.

If no arrearage on the preferred stock exits, how much in total dividends is paid to each class of stock?

Select one:

a.

Preferred	Common
$128,000	$312,000

b.

Preferred	Common
$320,000	$120,000

c.

Preferred	Common
$440,000	$0

d.

Preferred	Common
$400,000	$40,000