Davis Corp has declared $50,000 cash dividend. Outstanding common shares have a book value of $400,000 and 1,000, $6 Preferred shares are outstanding with a value of $100,000 1. How would the dividends be distribute if the preferred shares are non-cumulative and non- participating? 2. How would the dividends be distribute if the preferred shares are cumulative and dividends have not been paid on the preferred shares in the last 2 years 3. How would the dividends be distribute if the preferred shares are non-cumulative and fully- participating? 4. How would the dividends be distribute if the preferred shares are cumulative and participating and the dividends have not been paid on the preferred shares in the last 2 years