Ultimate Sportswear has $240,000 of 6% noncumulative, preferred stock outstanding, Ultimate Sportswear also has $640,000 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 $44,000. This dividend should be distributed as follows: Multiple Choice $22,000 preferred; $22,000 common. ( ) $23,000 preferred; $21,000 common. O $11,000 preferred; $33,000 common. O $0 preferred; $44,000 common. $14,400 preferred; $29,600 common