Dividends

AA Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and 300,000 shares of P30 par ordinary shares. During the current year, the corporation declared and paid a total cash dividend of P900,000.

Required:

For each of the following independent cases, compute the total dividends to be received by each class of stock.

1. The preference share is non-cumulative and non-participating.

2. The preference share is cumulative and non-participating with one-year dividends in arrears.

3. The preference share is non-cumulative and participating.

4. The preference share is cumulative and participating with no dividends in arrears.