(Adapted)

Green Corporation has the following capital structure since the incorporation on January 1. 2016:

• 10% Preference shares, P100 par, 1,000 shares issued --------P100,000
• Ordinary shares, P50 par, 8,000 shares issued ------------------ 400,000

Although profitable, Green Corporation did not declare dividends in 2016 and 2017. In 2018, its Board of Directors declared a cash dividend of P120,000.

Required:

A. Allocate the P120,000 cash dividend between preference shares and ordinary shares assuming preference shares are:

1. Non-cumulative and non-participating
2. Cumulative but non-participating
3. Non-cumulative but fully participating
4. Cumulative and fully participating

B. Compute the dividend per preference share and dividend per ordinary share under each of the assumption mentioned above.