Gault Corporation Had the Following Shares of Stock Outstanding on December

Multiple Choice

Gault Corporation had the following shares of stock outstanding on December 31, 2010: Common stock, $50 par value, 200,000 shares outstanding
Preferred stock, 8 percent, $100 par value, cumulative, 20,000 shares outstanding
Dividends were in arrears for 2008 and 2009. On December 31, 2010, total cash dividends of $800,000 were declared. The total amounts payable to preferred stockholders and common stockholders, respectively, are

A) $160,000 and $640,000.
B) $480,000 and $320,000.
C) $320,000 and $480,000.
D) $400,000 and $400,000.