Sweet Company’s outstanding stock consists of 1,400 shares of
cumulative 6% preferred stock with a $100 par value and 11,400
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|
The amount of dividends paid to preferred and common shareholders in year 3 is:
Answer: Year 3 Preferred Dividend $14,400 and Common shareholders dividend $24,600
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