Item Nos. 11 and 12 are based on the following information: XYZ Corporation was dissolved and liquidated. On June 30, the followingequity balances appeared in the books: 8% Preference Share Capital, P 100 par--------------------------------------- P 500,000 Ordinary Share Capital, P 30 par------------------------------------------------ 300,000 On this date, cash of only P 600,000 was available for distribution to the shareholders. 11. If the preference shares are preferred as to assets, how much dividends per share would be given to the ordinary shareholders? a. P 100.00. b. P 30.00. c. P 22.50. d. P 10.00. 12. If the preference shares are not preferred as to assets, how much would be the preferred dividends per share? a. P 100.00. b. P 75.00. c. P 70.00. d. P 22.50.