For This Question Only. assume that the preferred shares were noncumulative and non-participating. The company declared and paid a cash dividend on February 1, 2021 of $1,400,000. Dividends had not been declared for the past two years, 2019 and 2020. How much will each shareholder group receive? a. $270,000 to Preferred and $1,130,000 to Common b. $360,000 to Preferred and $1,040,000 to Common c. $807,692 to Preferred and $592,308 to Common as the common shareholders carry more risk and so they must receive based on pro-rata share contribution. d. Each group receives an equal amount of $700,000 per group. e. None of the above