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Sweet Company's outstanding stock consists of 1,160 shares of cumulative 5% preferred stock with a $100 par value and 10,000 shares of common stock with
Sweet Company's outstanding stock consists of 1,160 shares of cumulative 5% preferred stock with a $100 par value and 10,000 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. Dividends Declared & Paid $3,600 $ 6,400 $ 32,500 The amount of dividends paid to preferred and common shareholders in year 3 is: Year 1 Year 2 Year 3 Multiple Choice $7,400 preferred, $25,100 common. $5,800 preferred, $26,700 common.
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