Fargo Company's outstanding stock consists of 750 shares of noncumulative 5% preferred stock with a $10 per value and 5.600 shares of common stock with a $1 por value. During the first three years of operation, the corporation declared and paid the following lolal casti dividends. Dividends Declared & Paid $38, eee $ 7,eee $47, eee year 1 year 2 year 3 The amount of dividends paid to preferred and common shareholders in year 1 is: Multiple Choice O $375 preferred: $37,625 common. O $7500 preferred: $30.500 common $317500 preferred $6.250 COTTON Oo oo $19.000 preferred: $19.000 common O $38.000 preferred: $0 common