Sweet Companys outstanding stock consists of 1,800 shares of cumulative 5% preferred stock with a $100 par value and 18,000 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
Year 1	$	3,600
Year 2	$	10,800
Year 3	$	57,600

The amount of dividends paid to preferred and common shareholders in year 3 is:

Multiple Choice

• $57,600 preferred; $0 common.

• $12,600 preferred; $45,000 common.

• $18,000 preferred; $39,600 common.

• $0 preferred; $57,600 common.

• $9,000 preferred; $48,600 common.