MC Qu. 169 Sweet Company's outstanding... 0.5 points Sweet Company's outstanding stock consists of 2,000 shares of cumulative 4% preferred stock with a $100 par value and 12,000 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. References year 1 year 2 year 3 Dividend Declared $ 4,000 $ 8,000 $42,000 The amount of dividends paid to preferred and common shareholders in year 3 is: Multiple Choice O $12,000 preferred: $30,000 common 37 Multiple Choice $12,000 preferred: 30,000 common. $8,000 preferred: $34,000 common. $24,000 preferred; $18,000 common. $42.000 preferred: $0 common $0 preferred: $42,000 common