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. Dividends Declared & Paid year 1 $ 33,000 year 2 year 3 $ 5,000 $ 42,000 The amount of dividends paid to preferred and common shareholders in year 1 is: Sweet Company's outstanding stock consists of 1,200 shares of cumulative 4% preferred stock with a $100 par value and 11,200 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. Dividends Declared & Paid Year 1 $ 3,200 $ 7,200 Year 2 Year 3 $ 38,000 The total amount of dividends paid to preferred and common shareholders over the three-year period is: Sweet Company's outstanding stock consists of 1,800 shares of cumulative 5% preferred stock with a $100 par value and 11,800 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. Dividends Declared & Paid Year 1 Year 2 $ 3,800 $ 7,800 Year 3 $ 41,000 The amount of dividends paid to preferred and common shareholders in year 3 is: Gracey's Department Stores has $214,000 of 5% noncumulative, preferred stock outstanding. Gracey's also has $614,000 of common stock outstanding. During its first year, the company paid cash dividends of $44,000. This dividend should be distributed as follows