Question 14 (1 point) Assume the following shares are outstanding for Hernandez Inc. on Dec. 31, 2022: 40,000 shares of preferred stock outstanding, 10%, $10 par value, CUMULATIVE. 80,000 shares of common stock outstanding, $0.01 par value. Ramirez did not have dividends in arrears as of January 1, 2020, but did not pay any dividends in 2020 or 2021. Total dividends of $300,000 are declared and paid in 2022. Common shareholders are entitled to of the dividends paid in 2022. $40,000 $180,000 $120,000 $260,000