Fargo Company's outstanding stock consists of 450 shares of noncumulative 5% preferred stock with a $10 par value and 5,500 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. year 1 year 2 year 3 Dividend Declared $35,000 $ 7,000 $44,000 The amount of dividends paid to preferred and common shareholders in year 1is: Multiple Choice O $35.000 preferred: $0 common. O $17.500 praterred; $17.500 common $225 preferred: $34775 common O $4,500 preferred: $30,500 common. O $297500 preferred: $5.250 common Halverstein Company's outstanding stock consists of 8.050 shares of cumulative 5% preferred stock with a $10 par value and 3.450 shares of common stock with a S1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividend Declared Year 1 $ Year 2 $ 6,900 Year 3 $32,000 @ The amount of dividends paid to preferred and common shareholders in Year 2 is: Multiple Choice $3,450 proferred: $3,450 common O preferred: 86.900common $4,830 proferred: $2.070 common 56.900 preferred: So common $4025 preferred: $2875 common