Sweet Company’s outstanding stock consists of 1,800 shares of cumulative 4% preferred stock with a $100 par value and 10,800 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.
a) Specific dividend amounts required for calculation are needed
b) Insufficient information provided
c) Dividends on preferred stock only
d) Dividends on common stock only