Gault Corporation had the following shares of stock outstanding on December 31, 2022: Common stock, $50 par value, 200,000 shares outstanding Preferred stock, 8%, $100 par value, cumulative, 20,000 shares outstanding Dividends were in arrears for 2020 and 2021. On December 31, 2022, total cash dividends of $400,000 were declared. The total amounts payable to preferred stockholders and common stockholders, respectively, are: