Sweet Company's outstanding stock consists o 700 shares o cumulative 4% preferred stock with a S 00 par value and T During the first three years of operation, the corporation declared and paid the following total cash dividends. 0 shares of common stock with par value. Dividend Declared year 3,700 year 2 7,700 year 3 $40,500 The amount of dividends paid to preferred and common shareholders in year 3 is: Multiple Choice $9,000 preferred; $31,500 common. $6800 preferred: $33,700 common. $20,400 preferred: $20,100 common. $40,500 preferred; $0 common. SO preferred: $40,500 common