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  3. sweet companys outstanding stock consists of 1,500

Sweet Companys outstanding stock consists of 1,500 shares of cumulative 5% preferred stock with a...

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Accounting

Sweet Companys outstanding stock consists of 1,500 shares of cumulative 5% 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. Dividend Declared Year 1 $ 2,500 Year 2 $ 6,500 Year 3 $ 34,500 The total amount of dividends paid to preferred and common shareholders over the three-year period is:

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