Fitzgerald Ltd had the following capital structure on 1 July 201 9: Number of ordinary shares Number of 10% preference shares 5 ooo ooo IOO OOO During the year ended 30 June 2020, the company made net profit after tax of $400 000. Preference share dividends of $10 000 were paid during the year. The preference dividends were not treated as part of interest expense. No further shares were issued during the year ending 30 June 2020.