Martinez Ltd. has the following equity accounts at January 1, 2017. Preferred shares outstanding: 2,500 shares $62,500 Common shares outstanding: 4,000 shares 400,000 (a) What was the average issue price of the preferred shares? (b) Of the common shares? (c) If the preferred shares pay a dividend of $1 per share and are participating, what is the per share dividend that would be allocated to the common shares before any additional dividend would be paid to preferred shareholders for participation?