Ultimate Sportswear has $230,000 of 7% noncumulative, nonparticipating, preferred stock outstanding. Ultimate Sportswear also has $630,000 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 $43,000. This dividend should be distributed as follows: 59 Multiple Choice $21,500 preferred: $21,500 common. $10,750 preferred: $32,250 common. $16,100 preferred: $26.900 Next > 15 of 30 15 of 30 Prey SC STOW W STV