Sweet Company's outstanding stock consists of 1,800 shares of noncumulative 5% preferred stock with a $100 par value and 11,800 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 $ 3,800 $ 9,600 $ 41,000 The total amount of dividends paid to preferred and common shareholders over the three-year periodis