Sweet Company's outstanding stock consists of 1700 shares of cumulative 5% preferred stock with a $100 par value and 10,700 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 $ 2,780 $ 6,700 $35,500 Year 1 Year 2 Year 3 The amount of dividends paid to preferred and common shareholders in year 3 is: Multiple Choice 0 $16,300 preferred, $19,400 common