Kuwait Company has $400,000 of 8% preference shares and $600,000 of ordinary shares. The par value of preference Share is $20, and the par value of ordinary share is $10. No dividends have been paid or declared during the last 2 years 2019 and 2020. On December 31, 2021, declared to distribute $194,000 dividends. Instructions Compute how much each class of shares will receive under each of the following assumptions: 1. The preference shares are noncumulative and nonparticipating. 2. The preference shares are cumulative and participating in excess of 10% for