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How much is the total dividends for ordinary shares

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Reference no: EM132891136

Oceans Corporation had the following classes of share outstanding as of December 31, 2021.

  • 6% Preference share capital, P100 par, 2000 issued and outstanding P200,000
  • Ordinary share capital, P20 par, 20,000 shares issued and outstanding 400,000
  • No dividends were paid during 2019 and 2020. On December 31, 2021, P200,000 cash dividends were declared.

Question 1: If preference share is cumulative and fully participating, how much is the total dividends for ordinary shares?

Reference no: EM132891136

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