Saved Help Save & Exit Submit Williams Company has $100 000 of 8% cumulative, nonparticipating preferred stock outstanding Williams also has 30,000 shares of $1 par value 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. This dividend should be distributed as follows. 31 Multiple Choice $15,000 preferred, $15,000 common $16,000 preferred: $14.000 common SO preferred: $30,000 common $8,000 preferred $22,000 common $30,000 preferred: $0 common