Willie Corporation has 15,000 shares of 10%, $50 par, cumulative preferred stock outstanding and 25000 shares of no-par common stock outstanding. At the end of the current year, Willie Corporation declares a dividend of $120,000. Dividends of $37,500 are in arrears as of January 1 of the current year.

How much of the $120,000 of dividends will go to the preferred stockholders and the common stockholders?