Sweet Company's outstanding stock consists of 1,500 shares of cumulative 5% preferred stock with a $100 par value and 11,500 shares of common stock with a $10 par value. During the first three years of operation, the corporation declared and pald the following total cash diMdends year 1 year 2 year 3 Dividend Declared 3,50e $7,500 $39,500 The amount of divldends pald to preferred and common shareholders In year 3 1s Multiple Cnoice $11,500 preferred; $28,000 common. $7,500 preferred: $32,000 common. $22,500 preferred: $17,000 common. $39,500 preferred; $0 common $0 preferred; S39,500 common