Gracey's Department... Gracey's Department Stores has $201.000 of 5% noncumulative, preferred stock outstanding. Gracey's also has $601,000 of common stock outstanding. During its first year, the company paid cash dividends of $40.000. This dividend should be distributed as follows: 3 points eBook Multiple Choice References A. $15,500 preferred: $15,500 common B. $10,900 preferred: $20,100 common C. $31000 preferred: $0 common D. $10,050 preferred: $20,950 common
