8. On 31 May 2017, Rehmaan Ltd went into liquidation. At that date, the equity of Rehmaan Ltd comprised: 400000 preference shares issued for SI paid to 50c $ 200,000 1000000 ordinary shares issued for $1 paid to 80c 800,000 $ 1,000,000 After realising the assets and paying all creditors, the liquidator had $300,000 cash available to distribute to shareholders. Required: Prepare a statement detailing the distribution of cash to shareholders assuming the company's constitution was silent regarding the rights of shareholders upon winding up