Sweet Companys outstanding stock consists of 1,400 shares of cumulative 6% preferred stock with a $100 par value and 11,400 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	$	3,400
Year 2	$	7,400
Year 3	$	39,000

The total amount of dividends paid to preferred and common shareholders over the three-year period is:

Multiple Choice

• $25,200 preferred; $24,600 common.

• $15,800 preferred; $34,000 common.

• $8,400 preferred; $41,400 common.

• $20,200 preferred; $29,600 common.

• $16,800 preferred; $33,000 common.