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Calgary Corporation has the following data on stock issued and outstanding on December 31, 2020: 10% Preference share, P10 par. 300.000 Ordinary share capital, P10

Calgary Corporation has the following data on stock issued and outstanding on December 31, 2020:

10% Preference share, P10

par. 300.000

Ordinary share capital, P10

par. 200.000

Retained earnings : 300.000

Dividends were in arrears for 2 years, excluding the current year. The Board of Directors declared P200,000 cash dividends.

Assumption: If the Preferred is non-cumulative and participating.

The ordinary dividend per share is?

A. 2

B. 1

C. 3

D. 4

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