Ultimate Sportswear has $180,000 of 7% noncumulative, nonparticipating preferred stock outstanding Ultimate Sportswear also has $580,000 01 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 $38,000. This dividend should be distributed as follows: Multiple Choice $9,500 preferred: $28.500 common $12,600 preferred: $25,400 common $0 preferred: $38,000 common O $20,000 preferred: $18,000 common $19.000 preferred: $19,000 common