Curtain co. paid dividends of $1,500; $3,000; and $4,000 during year 1, year 2, and year 3, respectively. the company had 700 shares of 3.5%, $100 par value preferred stock outstanding that paid a cumulative dividend. the amount of dividends received by the common shareholders during year 3 would be:
a. 2,450.b. $1,500.c. $950.d. $1,150.

In a recent annual report, apple computer reported the following in one of its disclosure notes: "warranty expense: the company provides currently for the estimated cost for product warranties at the time the related revenue is recognized." this note exemplifies apple's use of: (a) conservatism.(b) matching. (c) realization principle. (d) economic entity.