Martinez Distribution Corporation's contributed capital section of its balance sheet follows:
4% Preferred stock: 65,000 shares outstanding, $10 par value	$ 650,000
Common stock: $8 par value	400,000
During the last two years, Martinez Distribution Corporation did not declare any dividends to its shareholders. In year 3, Martinez declares and pays total dividends of $100,000.
Required: Calculate separately the dividends paid to preferred and common shareholders in year 3 if the preferred stock is cumulative.