2) Eby Corporation issued 200,000 shares of $20 par value, cumulative, 5% preference shares on January 1, 2018, for $4,800,000. In December 2020, Eby declared its first dividend of $800,000. Instructions (a) Prepare Eby's journal entry to record the issuance of the preference shares. (b) If the preference shares are cumulative, how much of the $800,000 would be paid to ordinary shareholders?