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Sweet Companys outstanding stock consists of 1,100 shares of noncumulative 4% preferred stock with a $100 par value and 10,100 shares of common stock with
Sweet Companys outstanding stock consists of 1,100 shares of noncumulative 4% preferred stock with a $100 par value and 10,100 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 $ 2,100
Year 2 $ 6,200
Year 3 $ 32,500
The total amount of dividends paid to preferred and common shareholders over the three-year period is:
Multiple Choice $13,200 preferred; $27,600 common. $10,600 preferred; $30,200 common. $4,400 preferred; $36,400 common. $10,900 preferred; $29,900 common. $8,800 preferred; $32,000 commonStep by Step Solution
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