Graniel Couture has

$260,000

of

8%

noncumulative, preferred stock outstanding. Graniel Couture also has

$80,000

of common stock outstanding. The company paid cash dividends of

$56,000

during the year. This dividend should be distributed as follows:\ a.

$20,800

common;

$35,200

preferred;\ b.

$56,000

preferred;

$0

common.\ c.

$20,800

preferred;

$35,200

common.\ d.

$0

preferred;

$56,000

common.\ e.

$28,000

preferred;

$28,000

common.

17. Graniel Couture has $260,000 of 8% noncumulative, preferred stock outstanding. Graniel Couture also has $80,000 of common stock outstanding. The company paid cash dividends of $56,000 during the year. This dividend should be distributed as follows: a. $20,800 common; $35,200 preferred; b. $56,000 preferred; $0 common. c. $20,800 preferred; $35,200 common. d. $0 preferred; $56,000 common. e. $28,000 preferred; $28,000 common.