Ultimate Sportswear has $140,000 of 6% noncumulative, nonparticipating, preferred stock outstanding. Ultimate Sportswear also has $540,000 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 $34,000. This dividend should be distributed as follows: Multiple Choice 58,400 preferred; $25.600 comm $18,000 preferred; $16,000 common. $0 preferred; $34,000 common. S17000 preferred; $17000 common. S8,500 preferred; $25,500 common