acct

9 Fargo Company's outstanding stock consists of 950 shares of noncumulative 5% preferred stock with a $10 par value and 4,800 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. 4.02:27 Dividends Declared & Paid Year 1 $ 33,000 Year 2 $ 5,000 Year 3 $ 42,000 The amount of dividends paid to preferred and common shareholders in Year 1 is: Multiple Choice $475 preferred: 532.525 common 59,500 preferred: $23.500 common $28.7500 preferred, 54.250 common Ac raw 101