Question 2 The shareholders' equity of Deer Ltd. at the end of 2020 and 2019 appeared as follows: Share capital, preferred shares, $2 cumulative, 2,000,000 shares authorized, 26,700 shares issued Share capital, 5,000,000 common shares authorized, 1,250,000 $213,600 $213,600 common shares issued (2019-1,050,000 shares) Retained earnings Total shareholders' equity 5,200,000 4,200,000 3,979,000 3,187,000 $9,392,600 $7,600,600 During 2020, Deer paid a total of $114,300 in cash dividends, [y] Your answer is correct. Assume the preferred shares were not in arrears at December 31, 2019. How was the $114,300 in cash dividends distributed between the two types of shares in 2020? 5340 1143 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. (b) Assume the preferred share dividends were in arrears for one year; that is, the dividends were not paid in 2019. How was the $114,300 in cash dividends distributed between the two classes of shares? 2019 2020