Q4. Jupiter, Inc., has 800,000 of 8% preference shares and 1,200,000 of ordinary shares outstanding, each having a par value of 10 per share. No dividends have been paid or declared during 2017 and 2018. As of December 31, 2019, it is desired to distribute 488,000 in dividends. Instructions How much will the preference and ordinary shareholders receive under each of the following assumptions: (a) The preference is noncumulative and nonparticipating. (b) The preference is cumulative and nonparticipating. (c) The preference is cumulative and fully participating. (d) The preference is cumulative and participating to 12% total.