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Sweet Company's outstanding stock consists of 1800 shares of cumulative 4% preferred stock with a...

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Accounting

Sweet Company's outstanding stock consists of 1800 shares of cumulative 4% preferred stock with a $100 par value and 10,800 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. Dividend Declared year 1 $ 2800 year 2 $ 6800 year 3 $ 36,000 The amount of dividends paid to preferred and common shareholders in year 3 is:

$36,000 preferred; $0 common. $0 preferred; $36,000 common. $7200 preferred; $28,800 common. $21,600 preferred; $14,400 common. $12,000 preferred; $24,000 common.

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