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de December "E15.22 (L05) (Preference Dividends) Martinez SA's ledger shows the following balances on 31,...

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de December "E15.22 (L05) (Preference Dividends) Martinez SA's ledger shows the following balances on 31, 2019 200.000 3,000,000 630,000 Share Capital - Preference, 5%-10 par value, outstanding 20,000 shares Share Capital-Ordinary 100 par value, outstanding 30,000 shares Retained Earnings Instructions Assuming that the directors decide to declare total dividends in the amount of 266,000, determine how much each class of shares should receive under each of the conditions stated below. One year's dividends are in arrears on the preference shares. a. The preference shares are cumulative and fully participating. b. The preference shares are non-cumulative and non-participating. c. The preference shares are non-cumulative and are participating in distributions in excess of a 7% dividend rate on the ordinary shares

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