Ultimate Sportswear has $130.000 of 7% noncumulative, preferred stock outstanding Ultimate Sportswear also has $530,000 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 $33,000. This dividend should be distributed as follows: Multiple Choice $17,000 preferred, $16,000 common $0 preferred, $33.000 common