2 a) b) Preferred shares dividend in arrear c) Ratable dividend for common shares e) Current year preferred shares dividend d) Preferred shares participating dividend f) Ratable dividend for common shares on the participating portion Total dividend for common shares ($ 6 8,000) ($ 6 8,000) ($ 6 8,000) x 2 : This is 1:2 (1/3 x (6 x 8000) (96,000+ 32,000)