Ultimate Sportswear has $300,000 of noncumulative, nonparticipating preferred stock outstanding, Ultimate Sportwear who has $700.000 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 $50,000. This dividend should be distributed as follows Multiple choice O preturned, 150.000 common. $24.000 preferred. 526.000 common $27000 pretened, $22,000 common $12.500 preferred: 5:37.500 common