In 2020, a company declared and paid a total of $60,000 in dividends for the year. They have 10,000 shares of $5 par common stock issued. They also have 5,000 of 5% cumulative $100 par value preferred stock outstanding. The corporation has paid dividends in all of the previous years. How much will each common and preferred shareholder receive? Preferred shareholders, $60,000, common shareholders, $0 Common shareholders, $60,000, preferred shareholders, $0 Common shareholders, $25,000; preferred shareholders, $35,000 Common shareholders, $50,000; preferred shareholders, $10,000 In 2020, a company declared and paid a total of $60,000 in dividends for the year. They have 10,000 shares of $5 par common stock issued. They also have 5,000 of 5% cumulative $100 par value preferred stock outstanding. The corporation has paid dividends in all of the previous years. How much will each common and preferred shareholder receive? Preferred shareholders, $60,000, common shareholders, $0 Common shareholders, $60,000, preferred shareholders, $0 Common shareholders, $25,000; preferred shareholders, $35,000 Common shareholders, $50,000; preferred shareholders, $10,000