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Sweet Company’s outstanding stock consists of 1,900 shares of noncumulative 3% preferred stock with a $100 par value and 10,900 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 $ 2,900 Year 2 $ 7,800 Year 3 $ 36,500 The total amount of dividends paid to preferred and common shareholders over the three-year period is:   Multiple Choice   $17,100 preferred; $30,100 common.   $5,700 preferred; $41,500 common.   $13,500 preferred; $33,700 common.   $11,400 preferred; $35,800 common.   $14,300 preferred; $32,900 common.

Sweet Company’s outstanding stock consists of 1,900 shares of noncumulative 3% preferred stock with a $100 par value and 10,900 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 $ 2,900 Year 2 $ 7,800 Year 3 $ 36,500 The total amount of dividends paid to preferred and common shareholders over the three-year period is:   Multiple Choice   $17,100 preferred; $30,100 common.   $5,700 preferred; $41,500 common.   $13,500 preferred; $33,700 common.   $11,400 preferred; $35,800 common.   $14,300 preferred; $32,900 common.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sweet Company’s outstanding stock consists of 1,900 shares of noncumulative 3% preferred stock with a $100 par value and 10,900 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 $ 2,900
Year 2 $ 7,800
Year 3 $ 36,500


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

 

Multiple Choice
  •  

    $17,100 preferred; $30,100 common.

  •  

    $5,700 preferred; $41,500 common.

  •  

    $13,500 preferred; $33,700 common.

  •  

    $11,400 preferred; $35,800 common.

  •  

    $14,300 preferred; $32,900 common.

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