17) Xtreme Sports has $100,000 of 8% cumulative preferred stoc k outstanding. Xtreme Sports also has $500,000 of common stock outstanding. In the 2016 no dividends wer 2017 Xtreme Sports paid cash dividends of $30,000. How should the dividends be de etween he preferrd nd common shareholders in 2017 No Year 2016 Common Stock SO journal entry is required) Preferred Stock S0 2017