Butfalo Limited has the following information available regarding its share capital at December 31, 2023: The shares were issued when the corporation began operations on January 1,2022. No dividends were deciared during 2022 and 2023. On October 27,2024, the board of directors declares the required preferred share dividends arnf a 50.50 dividend for esach of the common shares. The dividends are payable on December 1,2024 , to the shareholders of record an November 16,2024. (a)