MC Qu. 169 Sweet Company's outstanding…
Sweet Company’s outstanding stock consists of 1,300 shares of cumulative 5% preferred stock with a $100 par value and 11,300 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 $ 3,300 year 2 $ 7,300 year 3 $ 38,500
The amount of dividends paid to preferred and common shareholders in year 3 is: