Pharoah Corp. has outstanding 21700 no par value, $0.80, preferred shares and 101700 no par value common shares. Dividends have been paid every year except last year and the current year. The carrying value of the preferred shares is $217000 and of the common shares is $305100. If the preferred shares are cumulative and non-participating and $101700 is distributed as a dividend, the common shareholders will receive $66980. $0. $84340. $101700.