Problem 6: PVO Corporation has the following shareholders' equity account as of December 31, 2020: 10% Preference shares, P75 par Ordinary shares, P150 par Retained earnings P375,000 750,000 1,500,000 Cash dividends were declared on December 31, 2020, with dividends in arrears of P37,500 (exclusive of current year dividends). Required: 1. Compute the total dividends to preference shareholders and common shareholders assuming: a. Dividends declared amounted to P195,000 and preference shares are cumulative and non-participating. b. Dividends declared amounted to P130,000 and preference shares are non-cumulative and non-participating