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Sweet Company's outstanding stock consists of 1,500 shares of noncumulative 4% preferred stock with a $100 par value and 10,500 shares of common stock with
Sweet Company's outstanding stock consists of 1,500 shares of noncumulative 4% preferred stock with a $100 par value and 10,500 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. Year 1 Year 2 Year 3 Dividends Declared & Paid $ 2,500 $ 7,000 $ 34,500 The total amount of dividends paid to preferred and common shareholders over the three-year period is: Multiple Choice $13,000 preferred: $31,000 common. $6,000 preferred; $38,000 common. $18,000 preferred: $26,000 common. $14,500 preferred; $29,500 common. $12,000 preferred: $32,000 common
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