On January 1, 2016, Pitaya Publishers issued 30,000 shares of 5%, $100 par value, participating preferred stock at $110 per share. On the same day, Pitaya also issued 1,000,000 shares of $2 par value common stock for $20 per share. Pitaya has not repurchased any stock and has not paid any dividends for the past three years. In 2019, the Board of Directors declared a $300,000 dividend. How much will be paid to preferred shareholders and how much will be paid to common shareholders?