A company has $100,000 of 5% cumulative, nonparticipating, preferred stock outstanding. The company also has $500,000 of common stock outstanding. In the company's first year of operation, no dividends were paid. During the second year, the company paid cash dividends of $30,000. The dividend should be distributed as follows $5,000 preferred, $25,000 common O $10,000 preferred, $20,000 common $15,000 preferred, $15,000 common $25,000 preferred, $5,000 common