Compute the amount dividends paid to preferred stock holders

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Question - Sweet Company's outstanding stock consists of 2,000 shares of noncumulative 4% preferred stock with a $100 par value and 12,00 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:

Year 1: $4,000

Year 2: $8,000

Year 3: $42,000

The amount dividends paid to preferred and common stock holders in year 3 is?

Reference no: EM132176292

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