Sweet Company’s outstanding stock consists of 1,500 shares of noncumulative 5% preferred stock with a $100 par value and 11,500 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. Dividends Declared & Paid Year 1 $ 3,500 Year 2 $ 9,000 Year 3 $ 39,500 The total amount of dividends paid to preferred and common shareholders over the three-year period is: Multiple Choice   $15,000 preferred; $37,000 common.   $22,500 preferred; $29,500 common.   $18,500 preferred; $33,500 common.   $7,500 preferred; $44,500 common.   $16,500 preferred; $35,500 common.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Sweet Company’s outstanding stock consists of 1,500 shares of noncumulative 5% preferred stock with a $100 par value and 11,500 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. Dividends Declared & Paid Year 1 $ 3,500 Year 2 $ 9,000 Year 3 $ 39,500 The total amount of dividends paid to preferred and common shareholders over the three-year period is: Multiple Choice

 

$15,000 preferred; $37,000 common.

 

$22,500 preferred; $29,500 common.

 

$18,500 preferred; $33,500 common.

 

$7,500 preferred; $44,500 common.

 

$16,500 preferred; $35,500 common.

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