E11-6 Robydek Limited issued 100,000 20 par value, cumulative, 9% preference shares on January 1, 2015, for 2,080,000. In December 2017, Robydek declared its first dividend of 550,000 Instructions (a) Prepare Robydek's journal entry to record the issuance of the preference shares. (b) If the preference shares are not cumulative, how much of the 550,000 would be paid to ordinary shareholders? (c) If the preference shares are cumulative, how much of the 550,000 would be paid to ordinary shareholders