(LO 9) Sweet Companys outstanding stock consists of 1,600 shares of cumulative 6% preferred stock with a $100 par value and 10,600 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.

	Dividend Declared
year 1	$	2,600
year 2	$	6,600
year 3	$	35,000

The amount of dividends paid to preferred and common shareholders in year 3 is:

Multiple Choice

$19,600 preferred; $15,400 common.

$9,600 preferred; $25,400 common.

$28,800 preferred; $6,200 common.

$35,000 preferred; $0 common.

$0 preferred; $35,000 common.