Sweet Companys outstanding stock consists of 2,000 shares of cumulative 4% preferred stock with a $100 par value and 11,000 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.

	Dividend Declared
Year 1	$	3,000
Year 2	$	7,000
Year 3	$	37,000

The total amount of dividends paid to preferred and common shareholders over the three-year period is:

Multiple Choice

a. $24,000 preferred; $23,000 common.

b. $15,000 preferred; $32,000 common.

c. $8,000 preferred; $39,000 common.

d. $19,000 preferred; $28,000 common.

e. $16,000 preferred; $31,000 common.