Gracey's Department Stores has $$200,000$ of $6\%$ noncumulative, preferred stock outstanding. Gracey's also has $$600,000$ of common stock outstanding. During its first year, the company paid cash dividends of $$30,000.$ This dividend should be distributed as follows:

Multiple Choice

$$15,000$ preferred; $$15,000$ common.

$$6,000$ preferred; $$24,000$ common.

$$30,000$ preferred; $$0$ common.

$$12,000$ preferred; $$18,000$ common.

$$0$ preferred; $$30,000$ common.

Gracey's Department Stores has $$200,000$ of $6\%$ noncumulative, preferred stock outstanding. Gracey's also has $$600,000$ of common stock outstanding. During its first year, the company paid cash dividends of $$30,000.$ This dividend should be distributed as follows:

Multiple Choice

$$15,000$ preferred; $$15,000$ common.

$$6,000$ preferred; $$24,000$ common.

$$30,000$ preferred; $$0$ common.

$$12,000$ preferred; $$18,000$ common.

$$0$ preferred; $$30,000$ common.