Problem No. 6 At December 31, 2020, the equity accounts of Sample Corporation were as follows: 10% Preference share capital (P100 par, 50,000 shares) P5,000,000 Ordinary share capital (P10 par, 1,500,000 shares) 15,000,000 Retained earnings 5,000,000 Sample Corporation has never paid cash or share dividend. The capital accounts have not changed since Sample Corporation began operations on January 1, 2016. If the maximum amount available for cash dividend is declared on December 31, 2020? Requirements: Determine the amount of dividends to be paid to preference shareholders and ordinary shareholders, respectively, under each of the following independent situations: a. The preference shares are non-cumulative and non-participating b. The preference shares are cumulative and non-participating c. The preference shares are non-cumulative and fully participating. d. The preference shares are cumulative and fully participating. e. The preference shares cumulative and participating up to 15% Notes: Non-cumulative and non-participating Cumulative and non-participating Non-cumulative and fully participating Cumulative and fully participating