Question 40 (2.5 points) Gomez Company has 50,000 shares of $200 par value, 6 % cumulative preferred stock and 160,000 shares of $120 par value common stock. Francisco declares and pays cash dividends amounting to $800,000. If no arrearage on the preferred stock exits, how much in total dividends is paid to each of stock? Preferred $800,000 Common $0 Preferred $600,000 Common $200,000 Preferred $200,000 Common $600,000 Common $544,000 o Preferred $256,000