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5 MARKS ON FIVE At December 31, 2018 and 2019, Plank Corp, had outstanding 2,000 shares of $100 par value 8% cumulative preference shares and

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5 MARKS ON FIVE At December 31, 2018 and 2019, Plank Corp, had outstanding 2,000 shares of $100 par value 8% cumulative preference shares and 10,000 shares of $10 par value ordinary shares. At December 31, 2018, dividends in arrears on the preference shares were $8,000. Cash dividends declared in 2019 totaled $30,000. Required: Calculate the dividend payable to Ordinary and Preference shares

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