Sweet Company’s outstanding stock consists of 1,700 shares of cumulative 4% preferred stock with a $100 par value and 11,700 shares of common stock…

Sweet Company’s outstanding stock consists of 1,700 shares of cumulative 4% preferred stock with a $100 par value and 11,700 shares of common stock with a $10 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends.

 Dividend Declared

Year 1$3,700

Year 2$7,700

Year 3$40,500

The total amount of dividends paid to preferred and common shareholders over the three-year period is:

a. $20,400 preferred; $31,500 common.

b. $14,500 preferred; $37,400 common.

c $6,800 preferred; $45,100 common.

d $17,300 preferred; $34,600 common.

e $13,600 preferred; $38,300 common.

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