Buffet Company was organized in January 2021 and has 1,000 shares of $200 par value, 10 percent, noncumulative preferred stock outstanding and 3,000 shares of $1 par value common stock outstanding. Dividends declared and paid each year are $10,000 in 2021, $15,000 in 2022, and $75,000 in 2023. During 2023, the dividends that must be paid to the preferred and common stockholders, respectively, total _____.

multiple choice

• $35,000 and $40,000

• $75,000 and $0

• $20,000 and $55,000

• $100,000 and $0