At December 31 last year and this year, Kilo Company had 2,000 outstanding 6% cumulative preference share with a par value of $1,000 per share. At December 31 last year, dividends in arrears on the preference shares were $60,000. Cash dividends declared this year totaled #220,000. 38. What amounts are payable to the preference and ordinary shareholders respectively? a. P 120,000 and P100,000 b. B 160,000 and 60,000 c. P 180,000 and $ 40,000 d. 220,000 and 0 Lima Company has 5,000 outstanding 6% cumulative preference shares with par value of 100 and 175,000 outstanding ordinary shares. The company has paid no dividends for the past two years including the current year. For this year, Lima had a profit of $1,450,000 and desired to pay the ordinary shareholders a dividend equivalent to 25%of profit. 39. The total amount of dividends to be paid by Lima Company at the end of this year is: . 362,500 b. P 392,500 c. 407.500 d. # 422,500 Mike Corporation has 10,000 outstanding 7% preference shares with a par value of $50 per share and 100,000 outstanding ordinary shares with a par value of $4 per share. Two years' preference dividends are in arrears excluding the current year. Mike declared a cash dividend large enough to pay the preference dividends for the current year, and a $1.50 dividend per ordinary share 40. What was the total amount of the dividend declared? a. 105,000 b. 150,000 c. # 220,000 d. # 255,000