Sweet Company's Outstanding Stock Consists of 1,000 Shares of Cumulative

Multiple Choice

Sweet Company's outstanding stock consists of 1,000 shares of cumulative 5% preferred stock with a $100 par value and 5,000 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. 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.