Help Saved Su Save & Exit CH 10, 11, 12 & 13) Eastline Corporation has $110,000 of 9% noncumulative, nonparticipating. preferred stock outstanding. Eastline also has $510,000 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 $31,000. This dividend should be distributed as follows: Multiple Choice $16,000 preferred: $15,000 common 50 preferred: $31,000 common $7750 preferred: $23.250 common 59,900 preferred. $21500 common $15,500 preferred: $15.500 common