Sweet company’s outstanding stock consists of 1,000 shares of noncumulative 5% preferred stock with a $100 par value and 10,000 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 $ 2,000
year 2 $ 6,000
year 3 $ 32,000
the total amount of dividends paid to preferred and common shareholders over the three-year period is:
(a) $15,000 preferred; $25,000 common.
(b) $11,000 preferred; $29,000 common.
(c) $5,000 preferred; $35,000 common.
(d) $12,000 preferred; $28,000 common.
(e) $10,000 preferred; $30,000 common.