Novak Fashions has 2,000 shares of 6%, 100 par value preference shares outstanding at December 31, 2020. At December 31, 20 the company declared a 126,000 cash dividend. Determine the dividend paid to preference shareholders and ordinary shareholde under each of the following scenarios. Dividend paid to preference share holders Dividend paid to ordinary sha holders 1. The preference shares are non-cumulative, and the company has not missed any dividends in previous years. 2. The preference shares are non-cumulative, and the company did not pay a dividend in each of the two previous years. 3. The preference shares are cumulative, and the company did not pay a dividend in each of the two previous years