Hamala Corporation has the following: - Preferred stock, $10 par value, 8%, 70,000 shares issued $ 700,000 - Common stock, $20 par value, 100,000 shares issued and outstanding $2,000,000 In 2019, The company declared and paid $40,000 of cash dividends. In 2020, The company declared and paid $200,000 of cash dividend. Required; Calculate the total cash dividends that will be distributed to preferred and common stockholders, assuming the preferred stock is cumulative.