In 20X7, Snowboard Ltd. had the following share capital outstanding: Preferred shares, no par value, $1.20 dividend: authorized- unlimited shares, issued, 100,000 shares $1,250,000 Common shares, no-par value: Authorized- unlimited shares, issued, 480,000 shares $ 642,000 No dividends were declared in 20X5 or 20X6, but $1,000,000 dividends were declared in 20X7. Required: Calculate the amount of dividends that would be paid in 20X7 to each share class under the following separate cases: Case A- Preferred shares are cumulative and non participating; Case B- Preferred shares are cumulative and participating with common shares only after the common shares receive a $1 per share dividend. Participation is based on relative contributed capital