Assume that VOF has outstanding 250,000 no par common shares with a contributed capital of $750,000 and 50,000 no par, $ 0.40, preferred shares issued at $5 each. It declared and paid a cash dividend in the current year of $125,000. Dividends had been declared every year except for the two years prior to the current year. Assume for this question only that the preferred shares were non-cumulative and non-participating. How much will each shareholder group receive?

Continue with the same information given in [34] above. However, now assume that for this question only that the preferred shares were non-cumulative and fully participating. How much will each shareholder group receive?