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Accounting 102 Chapter 12 - Stockholders Equity Preferred Stock Bucktown Theatre, Inc. owns and operates movie theatres. Bucktown has declared the following dividends as listed below. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 250,000 shares of non-cumulative 2% preferred stock, $20 par and 500,000 shares of common stock, $15 par value. Who gets paid first and what amount is the preferred shareholders entitled to each year? What would the distribution of dividends be if the preferred stock was "cumulative" 33 Vhat would the distribution of dividends be if the preferred stock was "cumulative